Elite Pharmaceuticals (OTCMKTS:ELTP) Share Price Passes Below 200 Day Moving Average – Here’s Why

by · The Cerbat Gem

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP – Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.49 and traded as low as $0.48. Elite Pharmaceuticals shares last traded at $0.48, with a volume of 407,701 shares trading hands.

Elite Pharmaceuticals Stock Performance

The stock has a market cap of $488.78 million, a P/E ratio of -22.88 and a beta of 0.14. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.27 and a quick ratio of 1.90. The company has a fifty day moving average of $0.49 and a 200 day moving average of $0.49.

Elite Pharmaceuticals (OTCMKTS:ELTP – Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The specialty pharmaceutical company reported ($0.01) EPS for the quarter. Elite Pharmaceuticals had a negative return on equity of 6.92% and a negative net margin of 25.70%.

About Elite Pharmaceuticals

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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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