Eltek (NASDAQ:ELTK) Stock Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Eltek Ltd. (NASDAQ:ELTK)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.74 and traded as low as $8.69. Eltek shares last traded at $8.69, with a volume of 1,803 shares changing hands.

Analyst Ratings Changes

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 data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Eltek Stock Down 1.8%

The stock has a market cap of $58.40 million, a price-to-earnings ratio of -19.31 and a beta of 0.75. The company has a 50 day simple moving average of $8.85 and a 200 day simple moving average of $8.74.

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

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.