Eltek Ltd. (NASDAQ:ELTK) Short Interest Update

Eltek Ltd. (NASDAQ:ELTK) was the target of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 2,542 shares, a decrease of 35.3% from the May 14th total of 3,928 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 10,056 shares, the days-to-cover ratio is presently 0.3 days.

Eltek Stock Performance

NASDAQ:ELTK opened at $9.22 on Thursday. The firm’s 50-day moving average is $8.59 and its 200-day moving average is $8.74. Eltek has a 52-week low of $7.30 and a 52-week high of $12.19. The company has a market cap of $61.96 million, a price-to-earnings ratio of -20.49 and a beta of 0.75.

Eltek (NASDAQ:ELTK) last released its quarterly earnings data on Wednesday, May 20th. The technology company reported ($0.42) earnings per share (EPS) for the quarter. The firm had revenue of $10.44 million for the quarter. Eltek had a negative net margin of 6.12% and a negative return on equity of 6.69%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Eltek from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Eltek currently has an average rating of “Sell”.

About Eltek

Eltek Ltd. manufactures, markets, and sells printed circuit boards (PCBs) in Israel, Europe, North America, India, the Netherlands, and internationally. It offers a range of custom designed PCBs, including rigid, double-sided and multi-layer PCBs, and flexible circuitry boards. The company also provides high density interconnect, flex-rigid, and multi-layered boards. It primarily serves medical technology, defense and aerospace, industrial, telecom, and networking equipment industries, as well as contract electronic manufacturers.