Elite Pharmaceuticals (OTCMKTS:ELTP) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Shares of Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.50 and traded as low as $0.39. Elite Pharmaceuticals shares last traded at $0.41, with a volume of 278,667 shares traded.

Elite Pharmaceuticals Price Performance

The stock has a market capitalization of $433.97 million, a P/E ratio of -20.31 and a beta of 0.07. The business’s 50 day simple moving average is $0.47 and its two-hundred day simple moving average is $0.50. The company has a quick ratio of 1.90, a current ratio of 3.27 and a debt-to-equity ratio of 0.12.

Elite Pharmaceuticals (OTCMKTS:ELTP) last announced its quarterly earnings data 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

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.