Key Points
- Eltek insider Gad Dovev sold 4,260 shares at an average price of $8.52, generating $36,295.20. The sale reduced his direct holdings by 89.5%, leaving him with 500 shares.
- Eltek recently reported a quarterly loss of $0.41 per share on $11.53 million in revenue, with a negative net margin of 12.66% and negative return on equity of 13.57%.
- The stock opened at $8.23 and remains under a consensus “Sell” rating; shares have traded between $7.30 and $11.59 over the past year.
Eltek Ltd. (NASDAQ:ELTK - Get Free Report) insider Gad Dovev sold 4,260 shares of the firm's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $8.52, for a total transaction of $36,295.20. Following the transaction, the insider directly owned 500 shares in the company, valued at approximately $4,260. The trade was a 89.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Eltek Price Performance
Eltek stock opened at $8.23 on Wednesday. Eltek Ltd. has a 12-month low of $7.30 and a 12-month high of $11.59. The stock has a market capitalization of $55.34 million, a PE ratio of -9.05 and a beta of 0.74. The firm has a 50 day simple moving average of $8.35 and a 200-day simple moving average of $8.58.
Eltek (NASDAQ:ELTK - Get Free Report) last issued its quarterly earnings results on Tuesday, August 18th. The technology company reported ($0.41) earnings per share (EPS) for the quarter. Eltek had a negative net margin of 12.66% and a negative return on equity of 13.57%. The firm had revenue of $11.53 million for the quarter.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a "sell (d+)" rating on shares of Eltek in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Eltek currently has a consensus rating of "Sell".
Get Our Latest Research Report on ELTK
Eltek Company Profile
(
Get Free Report)
Eltek Ltd. is an Israel-based manufacturer of printed circuit boards (PCBs) for applications that require advanced design, reliability, and performance. The company produces rigid multilayer, flexible, rigid-flexible, and high-density interconnect circuit boards, as well as prototype and quick-turn products.
Eltek serves customers in industries including aerospace and defense, medical equipment, industrial systems, communications, automotive, and other technology markets. Its products are used in electronic systems that may require complex interconnections, compact designs, and resistance to demanding operating conditions.
Founded in 1970 and headquartered in Petah Tikva, Israel, Eltek sells its products in Israel and international markets, including North America, Europe, and Asia.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
