On 3/11/24, Eltek Ltd (NASDAQ: ELTK) stock suffered a major decline of -23.3%, closing at $10.66. Moreover, trading volume in this decline was exceptionally high at 460% of normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -22.2% during the last week.
Current PriceTarget Research Rating
ELTK’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be a Value Builder.
Eltek has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Eltek has a poor Appreciation Score of 17 but a very high Power Rating of 97, resulting in the Neutral Value Trend Rating.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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