Elite Pharmaceuticals (OTCMKTS:ELTP) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.49 and traded as low as $0.43. Elite Pharmaceuticals shares last traded at $0.45, with a volume of 1,712,368 shares.

Elite Pharmaceuticals Trading Up 2.4%

The firm has a market cap of $482.47 million, a price-to-earnings ratio of -22.58 and a beta of 0.04. The business’s 50 day moving average price is $0.43 and its 200-day moving average price is $0.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.90 and a current ratio of 3.27.

Elite Pharmaceuticals (OTCMKTS:ELTP) last announced 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.