Zacks Small Cap Has Weak Estimate for Eltek FY2024 Earnings

Eltek Ltd. (NASDAQ:ELTK) – Equities researchers at Zacks Small Cap decreased their FY2024 earnings per share estimates for Eltek in a report released on Wednesday, November 20th. Zacks Small Cap analyst T. Kerr now anticipates that the technology company will earn $0.87 per share for the year, down from their prior forecast of $1.02. The consensus estimate for Eltek’s current full-year earnings is $1.02 per share.

Eltek Stock Down 0.9 %

NASDAQ:ELTK opened at $11.55 on Thursday. The company’s 50 day moving average is $10.74 and its 200-day moving average is $10.56. The firm has a market cap of $70.11 million, a price-to-earnings ratio of 13.59 and a beta of 0.45. Eltek has a 12 month low of $9.00 and a 12 month high of $22.80.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its holdings in Eltek by 10.9% during the third 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 during the period. Foundry Partners LLC boosted its stake in Eltek by 14.2% during the 3rd quarter. Foundry Partners LLC now owns 242,470 shares of the technology company’s stock valued at $2,645,000 after purchasing an additional 30,200 shares during the period. Finally, Renaissance Technologies LLC increased 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 worth $885,000 after buying an additional 1,300 shares during the period. Institutional investors own 64.58% of the company’s stock.

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.