Eltek Cash And Short Term Investments vs Total Current Assets Analysis
ELTK Stock | USD 10.45 0.11 1.06% |
Eltek financial indicator trend analysis is much more than just examining Eltek latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Eltek is a good investment. Please check the relationship between Eltek Cash And Short Term Investments and its Total Current Assets accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eltek. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. For more information on how to buy Eltek Stock please use our How to buy in Eltek Stock guide.
Cash And Short Term Investments vs Total Current Assets
Cash And Short Term Investments vs Total Current Assets Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Eltek Cash And Short Term Investments account and Total Current Assets. At this time, the significance of the direction appears to have strong relationship.
The correlation between Eltek's Cash And Short Term Investments and Total Current Assets is 0.71. Overlapping area represents the amount of variation of Cash And Short Term Investments that can explain the historical movement of Total Current Assets in the same time period over historical financial statements of Eltek, assuming nothing else is changed. The correlation between historical values of Eltek's Cash And Short Term Investments and Total Current Assets is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Cash And Short Term Investments of Eltek are associated (or correlated) with its Total Current Assets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Current Assets has no effect on the direction of Cash And Short Term Investments i.e., Eltek's Cash And Short Term Investments and Total Current Assets go up and down completely randomly.
Correlation Coefficient | 0.71 |
Relationship Direction | Positive |
Relationship Strength | Significant |
Cash And Short Term Investments
Short Term Investments is an account in the current assets section of Eltek balance sheet. This account contains Eltek investments that will expire within one year. These investments include stocks and bonds that can be liquidated by Eltek fairly quickly. The sum of a company's cash on hand, including bank deposits and short-term, highly liquid investments that are easily convertible to known amounts of cash.Total Current Assets
The total value of all assets that are expected to be converted into cash within one year or during the normal operating cycle.Most indicators from Eltek's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Eltek current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eltek. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. For more information on how to buy Eltek Stock please use our How to buy in Eltek Stock guide.At this time, Eltek's Tax Provision is quite stable compared to the past year. Enterprise Value Over EBITDA is expected to rise to 9.72 this year, although the value of Selling General Administrative will most likely fall to about 5.3 M.
2021 | 2022 | 2023 | 2024 (projected) | Interest Expense | 488K | 129K | 84K | 79.8K | Depreciation And Amortization | 1.8M | 1.5M | 1.3M | 1.7M |
Eltek fundamental ratios Correlations
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Eltek Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Eltek fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 22.8M | 35.2M | 42.8M | 41.5M | 47.2M | 28.0M | |
Short Long Term Debt Total | 8.5M | 11.2M | 13.7M | 11.3M | 6.7M | 8.2M | |
Other Current Liab | 206K | 407K | 384K | 4.1M | 5.7M | 6.0M | |
Total Current Liabilities | 14.8M | 9.7M | 9.3M | 10.5M | 14.0M | 14.1M | |
Total Stockholder Equity | 6.3M | 15.3M | 21.1M | 21.0M | 26.9M | 28.2M | |
Property Plant And Equipment Net | 9.3M | 16.2M | 16.3M | 15.4M | 15.9M | 11.4M | |
Net Debt | 6.8M | 6.5M | 4.5M | 3.9M | (2.6M) | (2.5M) | |
Retained Earnings | (19.7M) | (17.1M) | (12.1M) | (9.9M) | (4.8M) | (5.1M) | |
Accounts Payable | 4.7M | 4.5M | 4.0M | 4.8M | 7.5M | 6.0M | |
Cash | 1.6M | 4.7M | 9.3M | 7.4M | 9.3M | 9.7M | |
Non Current Assets Total | 9.3M | 16.3M | 20.2M | 18.1M | 17.1M | 12.7M | |
Cash And Short Term Investments | 1.6M | 4.7M | 9.3M | 7.4M | 12.1M | 12.7M | |
Net Receivables | 7.6M | 9.8M | 7.8M | 10.4M | 11.3M | 8.0M | |
Common Stock Shares Outstanding | 3.7M | 4.5M | 5.9M | 5.8M | 6.0M | 6.3M | |
Liabilities And Stockholders Equity | 22.8M | 35.2M | 42.8M | 41.5M | 47.2M | 28.0M | |
Non Current Liabilities Total | 1.8M | 10.2M | 12.5M | 10.0M | 6.3M | 4.2M | |
Inventory | 3.7M | 3.7M | 4.9M | 5.1M | 6.1M | 4.3M | |
Total Liab | 16.6M | 19.9M | 21.7M | 20.5M | 20.3M | 18.3M | |
Total Current Assets | 13.5M | 18.8M | 22.6M | 23.4M | 30.1M | 15.3M | |
Accumulated Other Comprehensive Income | 3.4M | 4.2M | 5.0M | 2.7M | 2.7M | 2.6M | |
Short Term Debt | 7.0M | 1.4M | 1.6M | 1.5M | 789K | 749.6K | |
Non Currrent Assets Other | 60K | 64K | 292K | 261K | 931K | 977.6K | |
Other Current Assets | 530K | 619K | 586K | 786K | 547K | 472.1K | |
Property Plant And Equipment Gross | 9.3M | 16.2M | 16.3M | 15.4M | 54.6M | 57.3M | |
Other Liab | 313K | 422K | 344K | 280K | 252K | 349.8K | |
Long Term Debt | 387K | 1.5M | 3.9M | 2.8M | 2.5M | 1.8M | |
Property Plant Equipment | 9.3M | 16.2M | 16.3M | 14.8M | 17.1M | 11.1M | |
Current Deferred Revenue | 2.9M | 2.9M | 3.4M | 3.2M | 3.7M | 2.8M | |
Other Assets | 60K | 126K | 3.9M | 2.8M | 3.2M | 3.3M | |
Net Tangible Assets | 6.3M | 15.3M | 21.1M | 21.0M | 24.2M | 25.4M | |
Short Long Term Debt | 5.6M | 676K | 708K | 702K | 631.8K | 600.2K | |
Net Invested Capital | 12.2M | 17.4M | 25.7M | 24.5M | 26.9M | 20.4M | |
Net Working Capital | (1.2M) | 9.1M | 13.3M | 12.9M | 16.1M | 16.9M |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Eltek in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Eltek's short interest history, or implied volatility extrapolated from Eltek options trading.
Pair Trading with Eltek
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Eltek position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Eltek will appreciate offsetting losses from the drop in the long position's value.Moving against Eltek Stock
0.77 | DELL | Dell Technologies Financial Report 6th of June 2024 | PairCorr |
0.74 | NTAP | NetApp Inc Financial Report 29th of May 2024 | PairCorr |
0.72 | WDC | Western Digital Report 13th of May 2024 | PairCorr |
0.63 | DM | Desktop Metal | PairCorr |
0.62 | PSTG | Pure Storage Financial Report 29th of May 2024 | PairCorr |
The ability to find closely correlated positions to Eltek could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eltek when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Eltek - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Eltek to buy it.
The correlation of Eltek is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eltek moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eltek moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Eltek can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eltek. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate. For more information on how to buy Eltek Stock please use our How to buy in Eltek Stock guide.You can also try the Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Complementary Tools for Eltek Stock analysis
When running Eltek's price analysis, check to measure Eltek's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Eltek is operating at the current time. Most of Eltek's value examination focuses on studying past and present price action to predict the probability of Eltek's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Eltek's price. Additionally, you may evaluate how the addition of Eltek to your portfolios can decrease your overall portfolio volatility.
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Is Eltek's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Eltek. If investors know Eltek will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Eltek listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.598 | Dividend Share 0.22 | Earnings Share 1.07 | Revenue Per Share 7.911 | Quarterly Revenue Growth 0.176 |
The market value of Eltek is measured differently than its book value, which is the value of Eltek that is recorded on the company's balance sheet. Investors also form their own opinion of Eltek's value that differs from its market value or its book value, called intrinsic value, which is Eltek's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Eltek's market value can be influenced by many factors that don't directly affect Eltek's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Eltek's value and its price as these two are different measures arrived at by different means. Investors typically determine if Eltek is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eltek's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.