It was discovered on 17 February 1873, by astronomer Christian Peters at Litchfield Observatory, New York, and named after Electra, an avenger in Greek mythology.

[13] 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.

The sky-plane plot of the chords reveals a peanut-shaped body, possibly the result of a two-body merger early in the history of the Solar System.

The largest telescopes with adaptive optics systems and advanced image processing techniques are required for detailed study of the satellites' properties.

[21] It was discovered on 15 August 2003, by a team of astronomers led by W. J. Merline using the Keck II telescope at the Mauna Kea Observatory in Hawaii.

Near-infrared observations from December 2014 show that S/2003 (130) 1 along with S/2014 (130) 1 display a similar spectrum to Elektra, supporting the hypothesis that they are fragments from a disruptive collision.

[22] This third satellite, which remains undesignated,[5] had eluded discovery when the images were taken, due to its faintness and close proximity to Elektra's bright glare.