Shaking up the investor landscape, the esteemed Eltek (NasdaqCM:ELTK) has seen its average one-year price target surge to an impressive 15.30 / share—an uplifting 15.38% uptick from the earlier estimate of 13.26 calculated on January 16, 2024.
Home to an array of analyst input, the range of price forecasts for the company spans from a modest 12.12 to a striking 18.90 / share. Impressively, this new average price target paints a delightful picture of growth, showcasing a 12.17% upsurge from the most recent closing price of 13.64 / share.
The Investor Sentiment Odyssey
Intriguing movements in the investor universe reveal 15 funds or institutions currently holding positions in Eltek. This indicates a remarkable 50.00% surge in ownership compared to the previous quarter. The pooled weight of all funds backing ELTK sits at 0.02%, marking a robust 49.40% uptick. Notably, institutional stakes have seen a 62.81% surge in shareholdings over the past three months, totaling a substantial 402K shares.
Delving into individual shareholder moves, Renaissance Technologies, holding 96K shares, exhibits 1.43% ownership of Eltek; a slight decline from the previous 108K shares, marking a decrease of 12.75%. Nonetheless, the firm has amped up its stake in ELTK by an impressive 18.64% over the quarter.
Further in the playing field, Navellier & Associates command 82K shares, illustrating 1.22% ownership of the company—an impressive 51.54% rise from the prior 40K shares they held. Their portfolio allocation has skyrocketed by a staggering 165.95% in the recent quarter.
GWM Advisors holding 46K shares, equivalent to a 0.69% stake, has witnessed a commendable upswing in their ownership—a hefty 43.87% increase from the previous 26K shares. Their portfolio allocation skyrocketed by an incredible 190.48% over the past quarter.
Marshall Wace, Llp adds to the shareholder mix with 40K shares, boasting a 0.60% stake in the company. Quadrature Capital, offering 27K shares, wraps up the lineup with a 0.40% ownership.
Peeking Behind the Eltek Curtain
Eltek, Israel’s premier manufacturer of printed circuit boards—the essential circuitry in most electronic devices—pioneers in the intricate high-end of PCB production, focusing on HDI, multilayered, and flex-rigid boards. Known for its cutting-edge circuitry solutions, Eltek caters to the tech-savvy demands of modern electronic applications, emphasizing sophistication and compactness in product design.
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