By | June 27, 2018

Eltek Ltd. (NASDAQ: ELTK) stock separated 5.87% away from the 200-day MA. Tracking current stock price levels in relation to some other popular moving averages, we have noted that the stock is trading -0.80% away from the 50-day MA and -2.89% off of the 20-day MA. Checking on recent price levels compared to prior highs and lows, we have seen that Eltek Ltd. (ELTK) recently traded -13.60% away from the 50-day high and moved 12.30% from the 50-day low. Taking a wider observation, the current separation from the one year high is -55.21%, and the distance from the one year low is presently 51.28%.

Eltek Ltd. (NASDAQ: ELTK), a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards, announced today its financial results for the quarter ended March 31, 2018.

Mr. Yitzhak Nissan, Chairman of the Board and Chief Executive Officer, commented: “Our revenues in the first quarter of 2018 increased to $8.9 million, compared to revenues of $8.5 million in the first quarter of 2017. While we are still facing challenges in our manufacturing operations, we are deploying our best resources to resolve them.”

Highlights of the First Quarter of 2018 compared to the First Quarter of 2017

Revenues for the first quarter of 2018 were $8.9 million compared to revenues of $8.5  million in the first quarter of 2017;

Gross profit was $444,000 (5.0% of revenues) compared to gross profit of $485,000 (5.7% of revenues) in the first quarter of 2017;

Operating loss was $626,000 compared to an operating loss of $630,000 in the first quarter of 2017;

Net loss was $670,000, or $0.33 per fully diluted share compared to a net loss of $814,000, or $0.40 per fully diluted share, in the first quarter of 2017;

EBITDA was a negative $185,000 (2.1% of revenues) compared to a negative EBITDA of $210,000 (2.5% of revenues), in the first quarter of 2017;

Net cash used in operating activities amounted to $859,000 compared to net cash used in operating activities of $776,000 in the first quarter of 2017.

Eltek Ltd. (NASDAQ: ELTK) dispatched -7.84% performance during the quarter and performance arrived at 3.32% over the last six months. In the last month, the price performed -8.89%.  Shares are now at 27.27% over the past year and year to date performance pointed at -1.74%. Contracting the focus on performance, delivered a move of -1.74% over the last week.

ELTK stock has a beta of -0.24 compared to a beta of 1 for the market, which implies that the stock’s price movements are less extreme than the market as a whole. The stock therefore has below average level of market risk. During the past week, the stock’s average weekly volatility was 3.89% and 4.88% volatility over the past 30 days.

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Irwin Rhodes

About Irwin Rhodes

Irwin Rhodes as a blogger and press writer, has worked on topics like earnings reports, hot stocks and market news. He is an experienced professional with 10+ years in research, analysis and reporting. He enjoys taking complex ideas and translating them into content aimed at the general public. Irwin has personal interests in health, fitness, animal care, gardening, travel, world politics, and current social issues, but always willing to learn something new. Irwin has a Masters in Applied Finance and Investment. He specializes in income trading using options, is very conservative in his style and believes patience in waiting for the best setups is the key to successful trading. He covers articles for Technology category. Email Contact: Irwin@newsregistrar.com

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