Eltek (NASDAQ:ELTK) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Eltek (NASDAQ:ELTKFree Report) in a report published on Wednesday. The brokerage issued a hold rating on the technology company’s stock.

Eltek Price Performance

NASDAQ ELTK opened at $8.53 on Wednesday. The business’s 50-day simple moving average is $8.92 and its 200-day simple moving average is $10.30. The firm has a market capitalization of $57.27 million, a P/E ratio of 10.04 and a beta of 0.58. Eltek has a 1-year low of $7.65 and a 1-year high of $12.47.

Eltek Announces Dividend

The firm also recently declared a — dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 22nd were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, April 22nd. Eltek’s dividend payout ratio (DPR) is 30.16%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Yelin Lapidot Holdings Management Ltd. grew its holdings in Eltek by 206.7% during the 4th quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock valued at $2,312,000 after purchasing an additional 140,868 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in Eltek during the 4th quarter valued at approximately $99,000. Finally, Northern Trust Corp purchased a new stake in Eltek during the 4th quarter worth approximately $405,000. Institutional investors and hedge funds own 64.58% of the company’s stock.

Eltek Company Profile

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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.

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