Its spectrum is of the G type, hence it probably has a Ceres-like composition. Spectral signatures of organic compounds have been seen on Elektra's surface.
In the late 1990s, a network of astronomers worldwide gathered lightcurve data that was ultimately used to derive the spin states and shape models of 10 new asteroids, including (130) Elektra. The light curve of 130 Elektra forms a double sinusoid while the shape model is elongated and the derived rotation axis is perpendicular to the plane of the ecliptic.
Optical observations have found a satellite of this asteroid. Once the orbit is known, Elektra's mass can be reliably found. The value of 6.6×1018 kg indicates a density of 1.3 ± 0.3 g/cm3. Optical observations have also determined that Elektra's shape is quite irregular, as well as giving indications of albedo differences of 5-15% on its surface.
In 2003, a small moon of Elektra was detected using the Keck II telescope. The diameter of the satellite is 4 km and it orbits at a distance of about 1170 km. The satellite has been given the provisional designation S/2003 (130) 1. Due to only a few observations to date, its orbit is still relatively loosely constrained.