Eltek (NASDAQ:ELTK) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Eltek Ltd. (NASDAQ:ELTK) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.76 and traded as high as $9.62. Eltek shares last traded at $9.45, with a volume of 1,620 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered 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”.

Eltek Trading Down 0.2%

The stock has a market capitalization of $63.50 million, a P/E ratio of -21.00 and a beta of 0.75. The company’s 50-day moving average is $8.70 and its two-hundred day moving average is $8.76.

Eltek (NASDAQ:ELTK) last posted its earnings results 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 firm had revenue of $10.44 million during 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.