Eltek Ltd. [ELTK] gain 37.77% so far this year. What now?

Eltek Ltd. [NASDAQ: ELTK] stock went on an upward path that rose over 15.50% on Thursday, amounting to a one-week price increase of more than 19.48%. The company report on April 12, 2021 that Eltek Announces its Intention to apply for a Land in Northern Israel to Build a Second Production Facility.

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Eltek Ltd. (NASDAQ: ELTK), a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards, provided an update regarding its intention to apply to the Israel Land Authority (“ILA”) for an allocation of land in the north of Israel where Eltek intends to build a second production facility.

The Ministry of Economics approved a recommendation to the ILA to allocate land in the north of Israel to Eltek without the need for a bidding process. Such recommendation provides for an exemption period of 24 months from the requirement to acquire the land by means of a tender. The land development cost is expected at a 30% discount to prevailing market prices. Following receipt of the Ministry of Economics recommendation, our board of directors instructed management to apply to the ILA for the necessary permits and to finalize the terms of a long term pre-paid lease.

Over the last 12 months, ELTK stock rose by 84.80%.

The market cap for the stock reached $40.54 million, with 4.84 million shares outstanding and 1.30 million shares in the current float. Compared to the average trading volume of 47.64K shares, ELTK stock reached a trading volume of 1634406 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Eltek Ltd. [ELTK]:

The Average True Range (ATR) for Eltek Ltd. is set at 0.41, with the Price to Sales ratio for ELTK stock in the period of the last 12 months amounting to 1.10. The Price to Book ratio for the last quarter was 2.20, with the Price to Cash per share for the same quarter was set at 0.80. Price to Free Cash Flow for ELTK in the course of the last twelve months was 18.43 with Quick ratio for the last quarter at 1.60.

ELTK Stock Performance Analysis:

Eltek Ltd. [ELTK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.48. With this latest performance, ELTK shares gained by 12.71% in over the last four-week period, additionally plugging by 40.43% over the last 6 months – not to mention a rise of 84.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ELTK stock in for the last two-week period is set at 73.13, with the RSI for the last a single of trading hit 81.85, and the three-weeks RSI is set at 66.88 for Eltek Ltd. [ELTK]. The present Moving Average for the last 50 days of trading for this stock 5.79, while it was recorded at 6.05 for the last single week of trading, and 5.21 for the last 200 days.

Insight into Eltek Ltd. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Eltek Ltd. [ELTK] shares currently have an operating margin of +8.26 and a Gross Margin at +21.08. Eltek Ltd.’s Net Margin is presently recorded at +7.10.

Return on Total Capital for ELTK is now 14.73, given the latest momentum, and Return on Invested Capital for the company is 15.91. Return on Equity for this stock inclined to 24.22, with Return on Assets sitting at 9.00. When it comes to the capital structure of this company, Eltek Ltd. [ELTK] has a Total Debt to Total Equity ratio set at 73.26. Additionally, ELTK Total Debt to Total Capital is recorded at 42.28, with Total Debt to Total Assets ending up at 31.81. Long-Term Debt to Equity for the company is recorded at 63.97, with the Long-Term Debt to Total Capital now at 36.92.

Reflecting on the efficiency of the workforce at the company, Eltek Ltd. [ELTK] managed to generate an average of $9,151 per employee. Receivables Turnover for the company is 4.25 with a Total Asset Turnover recorded at a value of 1.27.Eltek Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.90.

Eltek Ltd. [ELTK] Insider Position Details

There are presently around $1 million, or 2.70% of ELTK stock, in the hands of institutional investors. The top three institutional holders of ELTK stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 96,071, which is approximately 42.536% of the company’s market cap and around 25.30% of the total institutional ownership; GWM ADVISORS LLC, holding 29,600 shares of the stock with an approximate value of $0.18 million in ELTK stocks shares; and JAMES INVESTMENT RESEARCH INC, currently with $0.18 million in ELTK stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Eltek Ltd. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 2 institutional holders increased their position in Eltek Ltd. [NASDAQ:ELTK] by around 29,670 shares. Additionally, 1 investors decreased positions by around 3,184 shares, while 2 investors held positions by with 123,417 shares. The mentioned changes placed institutional holdings at 156,271 shares, according to the latest SEC report filing. ELTK stock had 1 new institutional investments in for a total of 1,000 shares, while 1 institutional investors sold positions of 3,184 shares during the same period.

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