April 16th, 2019
Amidst rising markets Eltek fell ($0.12) Tuesday which equals a 7.59% decline, closing at $1.46. Eltek is expected to release a new earnings report tomorrow. As well as the drop in value, Eltek hit a new 52 week low of $1.38. Eltek swung 26.09% between low and high. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 0.14.
ELTK was outperformed by the rest of the Information Technology sector which went up 0.49%.
The market sectors were mixed Tuesday with a majority of the sectors trending up. Financials saw the biggest increase of the day (1.37%), while Real Estate saw the biggest drop (-2.38%). Information Technology has seen the biggest year-to-date gain at 23.78%.
Energy saw the biggest turnaround from its 5-day performance of -1.22%, as it went up 0.64%. Real Estate and Utilities saw turn arounds from their five day positive performance, Real Estate with a drop of -2.38%.
- Financials went up with a 1.37% change.
- Energy went up with a 0.64% change.
- Industrials went up with a 0.59% change.
- Information Technology went up with a 0.49% change.
- Consumer Discretionary went up with a 0.48% change.
- Materials went up with a 0.47% change.
- Communication Services went up with a 0.21% change.
- Consumer Staples went down with a -0.06% change.
- Utilities went down with a -1.39% change.
- Healthcare went down with a -2.03% change.
- Real Estate went down with a -2.38% change.
Eltek Ltd. manufactures, markets, and sells printed circuit boards (PCBs) in Israel, Europe, North America, India, and internationally. The company offers a range of custom designed PCBs, including rigid, double-sided, and multi-layer PCBs; and flexible circuitry, such as flex and flex rigid boards. It serves manufacturers of defense and aerospace, medical, industrial, telecom, and networking equipment, as well as contract electronic manufacturers and other industries. The company markets and sells its products primarily through direct sales personnel, sales representatives, and PCB trading and manufacturing companies. Eltek Ltd. was founded in 1970 and is headquartered in Petach Tikva, Israel. As of December 27, 2018, Eltek Ltd. operates as a subsidiary of Nistec Golan Ltd.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Eltek’s score is 0.14) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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