Eltek (NASDAQ:ELTK) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Eltek Ltd. (NASDAQ:ELTK)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.70 and traded as high as $9.16. Eltek shares last traded at $8.89, with a volume of 2,587 shares traded.

Analyst Ratings Changes

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

Eltek Trading Up 0.1%

The stock has a market capitalization of $59.74 million, a PE ratio of -19.76 and a beta of 0.75. The company’s 50 day simple moving average is $8.47 and its 200 day simple moving average is $8.70.

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

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.