FY2024 Earnings Estimate for Eltek Issued By Zacks Small Cap

Eltek Ltd. (NASDAQ:ELTK) – Zacks Small Cap lowered their FY2024 EPS estimates for Eltek in a research note issued on Wednesday, November 20th. Zacks Small Cap analyst T. Kerr now forecasts that the technology company will post earnings per share of $0.87 for the year, down from their previous estimate of $1.02. The consensus estimate for Eltek’s current full-year earnings is $1.02 per share.

Eltek Stock Down 0.9 %

Eltek stock opened at $11.55 on Thursday. Eltek has a 12 month low of $9.00 and a 12 month high of $22.80. The stock has a market cap of $70.11 million, a price-to-earnings ratio of 13.59 and a beta of 0.45. The business has a 50 day moving average price of $10.74 and a two-hundred day moving average price of $10.56.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Foundry Partners LLC increased its holdings in Eltek by 71.3% in the 2nd quarter. Foundry Partners LLC now owns 212,270 shares of the technology company’s stock valued at $2,070,000 after buying an additional 88,365 shares during the period. Renaissance Technologies LLC raised its position in Eltek by 1.5% in the second quarter. Renaissance Technologies LLC now owns 90,723 shares of the technology company’s stock worth $885,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in Eltek by 10.9% during the third quarter. Sunbelt Securities Inc. now owns 10,361 shares of the technology company’s stock worth $113,000 after purchasing an additional 1,020 shares during the period. 64.58% of the stock is currently owned by institutional investors and hedge funds.

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.