Eltek Ltd. (NASDAQ:ELTK) Stock Soars 550% In 2 Days, What’s The Buzz?

Eltek Ltd. (NASDAQ:ELTK)
Shares of Eltek Ltd. (NASDAQ:ELTK) are gaining a lot of attention this...
Stay Ahead of the
Stock Market Game!
Subscribe to Small Cap
Exclusive for more


Is Sorrento Therapeutics Inc (NASDAQ:SRNE) a Safe Bi...
Guess Who Cyclacel Pharmaceuticals Inc. (NASDAQ:CYCC...
Omega Therapeutics OMGA Stock Price is ready to take...

Shares of Eltek Ltd. (NASDAQ:ELTK) are gaining a lot of attention this week as the stock has skyrocketed all the way from $1.64 to $11 – Jump of 550% – in just a matter of days.

So why the ELTK stock is up so much? Looks like investors are reacting positively after the company has announced its financial and operational results for the first quarter of 2019 that ended March 31, 2019.

Q1 2019 financial results

The company generated $8.7 million in revenues in Q1 2019 compared to $8.9 million that was reported a year ago. There was a 5% increase in gross profits from Q1 2018 to around 1.5 million in Q1 2019. The company registered a net profit of $242,000 translating to $0.12 earnings per diluted share in Q1 2019 compared to Q1 2018 when it reported a net loss of $670,000 or $0.13 loss per share.

[thrive_leads id=’8276′]

The first quarter of 2019 has been a promising one and the company posted a positive EBITDA of around $811,000 relative to a year ago when there was a negative EBITDA of $185,000. There was a positive operating cash flow of around 1.6 million in the quarter ended relative to $776,000 that was used in Q1 2018.

Results reflect Eltek’s turnaround strategy

Commenting on the results Chief Executive Officer Eli Yaffe said that the company was delighted that the results are a reflection of the first stage of the implementation of its turnaround plan that commenced in Q4 2018. He added that the company continues with its effort of enhancing operating efficiencies, improving customer experience, formulating effective sales strategies as well as its continued implementation of the plan to achieve sustained profitability.

Eltek is an Israeli industry leader in the manufacture and supply of technologically advanced solution in the segment of printed circuit boards which are the main circuitry employed in electronic devices. The company is a specialist in production and distribution of high quality and complex printed circuit boards, multi-layered and flex-rigid boards and HDI boards. The Israeli based technology company is ITAR compliant and it has NADCAP and AS-9100 Electronic certification.

The company supplies leading companies in aerospace, defence, and medical sectors. It operates through its European and North America subsidiaries and via distributors and agents.

ELTK stock was up 326% in Wednesday’s session and closed at $7. Moreover, the stock continues to move higher in today’s session and up another 50% at $10.75.

Stay in the lopp :

Here's Who Just Picked Up Tejon Ranch Company...
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tejon Ranch Company (NYSE:TRC) reported that Third Avenue Management has
This is Why Koios is a Leader and Continues w...

Ok... We have to start to get serious about a proven industry that's in the beginning stages of making an extreme change...

Remember about a little

Why On4 Communications Inc (OTCMKTS:ONCI) Sha...
On4 Communications Inc (OTCMKTS:ONCI) shares were up 85.71% on Wednesday  to $0.00130 and unchanged in after-hours trading. Share prices have been trading in a

related post

Skip to content