Elite Pharmaceuticals (OTCMKTS:ELTP) Trading Down 4.8% – Here’s Why

Elite Pharmaceuticals Inc. (OTCMKTS:ELTP – Get Free Report)’s stock price traded down 4.8% during mid-day trading on Friday . The stock traded as low as $0.51 and last traded at $0.5140. 871,376 shares were traded during mid-day trading, a decline of 28% from the average session volume of 1,216,807 shares. The stock had previously closed at $0.54.

Elite Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.44 and a current ratio of 7.23. The stock’s fifty day moving average is $0.63 and its two-hundred day moving average is $0.60. The firm has a market capitalization of $556.21 million, a price-to-earnings ratio of -51.81 and a beta of 0.10.

About Elite Pharmaceuticals

(Get Free Report)

Elite Pharmaceuticals, Inc, a specialty pharmaceutical company, engages in the development, manufacture, and sale of oral, controlled-release products, and generic pharmaceuticals. The company operates in two segments, Abbreviated New Drug Applications for Generic Pharmaceuticals and New Drug Applications for Branded Pharmaceuticals.

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