Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Sees Large Decrease in Short Interest

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,560,500 shares, a decrease of 22.1% from the October 15th total of 2,004,100 shares. Based on an average trading volume of 14,522,600 shares, the days-to-cover ratio is currently 0.1 days.

Elite Pharmaceuticals Stock Down 10.0 %

Shares of OTCMKTS:ELTP opened at $0.52 on Friday. Elite Pharmaceuticals has a 12 month low of $0.12 and a 12 month high of $0.75. The company’s 50-day moving average price is $0.45 and its two-hundred day moving average price is $0.27. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The firm has a market cap of $553.04 million, a P/E ratio of 57.51 and a beta of 0.18.

About Elite Pharmaceuticals

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.