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

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) shares passed 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 traded.

Elite Pharmaceuticals Trading Down 11.9 %

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 stock’s 50 day moving average is $0.48 and its 200-day moving average is $0.50. The company has a market cap of $341.56 million, a PE ratio of -15.99 and a beta of 0.07.

Elite Pharmaceuticals (OTCMKTS:ELTP) last announced its earnings results 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%.

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.