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

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.50 and traded as low as $0.35. Elite Pharmaceuticals shares last traded at $0.36, with a volume of 1,773,105 shares trading hands.

Elite Pharmaceuticals Stock Performance

The company has a quick ratio of 1.90, a current ratio of 3.27 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $0.48 and a 200 day moving average price of $0.50. The stock has a market cap of $341.56 million, a P/E ratio of -15.99 and a beta of 0.07.

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

Elite Pharmaceuticals Company Profile

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.