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

Elite Pharmaceuticals Inc. (OTCMKTS:ELTP)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $0.35 and traded as low as $0.2441. Elite Pharmaceuticals shares last traded at $0.2468, with a volume of 290,712 shares trading hands.

Elite Pharmaceuticals Trading Up 4.6%

The company has a market cap of $278.01 million, a price-to-earnings ratio of 6.45 and a beta of 0.37. The company has a quick ratio of 2.97, a current ratio of 3.76 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $0.31 and its two-hundred day simple moving average is $0.35.

Elite Pharmaceuticals (OTCMKTS:ELTP) last posted its earnings results on Thursday, August 13th. The specialty pharmaceutical company reported $0.01 EPS for the quarter. Elite Pharmaceuticals had a net margin of 40.19% and a return on equity of 44.58%.

About Elite Pharmaceuticals

Elite Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing, manufacturing, and commercializing oral dosage-form products. The company’s portfolio includes generic and proprietary immediate-release and controlled-release tablets and capsules, with an emphasis on products that use abuse-deterrent or other specialized drug-delivery technologies.

Elite has developed and commercialized products in several therapeutic categories, including pain management and other prescription medicines.