Eltek Ltd (ELTK) is destined for greater heights as its last quarter sales were 11,860 K

On Monday, Eltek Ltd (NASDAQ: ELTK) opened higher 18.55% from the last session, before settling in for the closing price of $18.89. Price fluctuations for ELTK have ranged from $3.84 to $20.97 over the past 52 weeks.

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A company in the Technology sector has jumped its sales by 4.35% annually for the last half of the decade. Company’s average yearly earnings per share was noted 110.91% at the time writing. With a float of $2.34 million, this company’s outstanding shares have now reached $5.85 million.

In an organization with Dec 12 2023 employees, it is important to assess its efficiency.

Eltek Ltd (ELTK) Insider Updates

A key investor’s attitude towards the stock of the Electronic Components industry is another important factor to consider. The insider ownership of Eltek Ltd is 60.03%, while institutional ownership is 5.13%.

Eltek Ltd (ELTK) Performance Highlights and Predictions

If we go through the results of last quarter, which was made public on 9/29/2023, the company posted $0.36 earnings per share (EPS) for the quarter, besting the agreed prediction (set at $0.31) by $0.05. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 110.91% per share during the next fiscal year.

Eltek Ltd (NASDAQ: ELTK) Trading Performance Indicators

Check out the current performance indicators for Eltek Ltd (ELTK). In the past quarter, the stock posted a quick ratio of 1.95. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 2.92. Likewise, its price to free cash flow for the trailing twelve months is 22.43.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 0.98, a number that is poised to hit 0.31 in the next quarter and is forecasted to reach 1.29 in one year’s time.

Technical Analysis of Eltek Ltd (ELTK)

Let’s dig in a bit further. During the last 5-days, its volume was 0.2 million. That was better than the volume of 0.13 million it reported in year-ago period. As of the previous 9 days, the stock’s Stochastic %D was 56.00%. Additionally, its Average True Range was 1.66.

During the past 100 days, Eltek Ltd’s (ELTK) raw stochastic average was set at 97.17%, which indicates a significant increase from 93.56% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 115.33% in the past 14 days, which was higher than the 92.96% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $15.76, while its 200-day Moving Average is $10.56. However, in the short run, Eltek Ltd’s stock first resistance to watch stands at $23.78. Second resistance stands at $25.16. The third major resistance level sits at $27.53. If the price goes on to break the first support level at $20.03, it is likely to go to the next support level at $17.66. Assuming the price breaks the second support level, the third support level stands at $16.28.

Eltek Ltd (NASDAQ: ELTK) Key Stats

There are currently 5,850K shares outstanding in the company with a market cap of 131.01 million. Presently, the company’s annual sales total 39,650 K according to its annual income of 3,190 K. Last quarter, the company’s sales amounted to 11,860 K and its income totaled 2,150 K.