Elite Pharmaceuticals (OTCMKTS:ELTP) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.50 and traded as low as $0.41. Elite Pharmaceuticals shares last traded at $0.42, with a volume of 807,140 shares changing hands.

Elite Pharmaceuticals Trading Up 0.4 %

The business’s 50-day simple moving average is $0.43 and its two-hundred day simple moving average is $0.50. The stock has a market capitalization of $448.29 million, a price-to-earnings ratio of -20.98 and a beta of 0.04. 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 announced its quarterly 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.