Eltek Ltd. (NASDAQ:ELTK) Short Interest Up 5.7% in December

Eltek Ltd. (NASDAQ:ELTK) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 20,300 shares, a growth of 5.7% from the December 15th total of 19,200 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily volume of 20,800 shares, the days-to-cover ratio is currently 1.0 days.

Hedge Funds Weigh In On Eltek

Large investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. lifted its position in Eltek by 10.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock valued at $113,000 after acquiring an additional 1,020 shares in the last quarter. Renaissance Technologies LLC lifted its position in Eltek by 1.5% in the 2nd quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock valued at $885,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Foundry Partners LLC lifted its position in Eltek by 14.2% in the 3rd quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock valued at $2,645,000 after acquiring an additional 30,200 shares in the last quarter. Institutional investors own 64.58% of the company’s stock.

Eltek Price Performance

Shares of ELTK stock traded down $0.33 on Monday, reaching $11.03. 3,404 shares of the company were exchanged, compared to its average volume of 16,468. The company has a market cap of $66.92 million, a price-to-earnings ratio of 12.97 and a beta of 0.45. The company has a 50-day moving average of $11.03 and a 200-day moving average of $10.65. Eltek has a one year low of $9.00 and a one year high of $22.80.

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.