Eltek (NASDAQ:ELTK) Stock Crosses Above 200-Day Moving Average – Here’s Why

Eltek Ltd. (NASDAQ:ELTK) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.75 and traded as high as $10.52. Eltek shares last traded at $10.14, with a volume of 22,591 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Eltek from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Eltek has a consensus rating of “Hold”.

Eltek Stock Up 7.1%

The company’s 50 day moving average price is $8.36 and its 200 day moving average price is $8.75. The firm has a market capitalization of $68.14 million, a price-to-earnings ratio of -22.53 and a beta of 0.75.

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

Eltek Company Profile

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.