Elite Pharmaceuticals (OTCMKTS:ELTP) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.47 and traded as low as $0.46. Elite Pharmaceuticals shares last traded at $0.49, with a volume of 831,291 shares changing hands.

Elite Pharmaceuticals Price Performance

The stock’s fifty day moving average is $0.51 and its 200-day moving average is $0.47. The stock has a market cap of $523.39 million, a PE ratio of -24.50 and a beta of 0.27. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.27 and a quick ratio of 1.90.

Elite Pharmaceuticals (OTCMKTS:ELTP) last posted its quarterly earnings data on Thursday, February 13th. The specialty pharmaceutical company reported ($0.01) earnings per share 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.