Elite Pharmaceuticals (OTCMKTS:ELTP) Stock Price Breaks Below 200 Day Moving Average – Time to Sell?

Elite Pharmaceuticals Inc. (OTCMKTS:ELTP) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $0.33 and traded as low as $0.2385. Elite Pharmaceuticals shares last traded at $0.2453, with a volume of 742,323 shares trading hands.

Elite Pharmaceuticals Stock Up 1.0%

The stock has a fifty day moving average of $0.26 and a 200 day moving average of $0.33. The firm has a market capitalization of $266.59 million, a P/E ratio of 12.25 and a beta of 0.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.76 and a quick ratio of 2.97.

Elite Pharmaceuticals (OTCMKTS:ELTP) last released its quarterly earnings data 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 the development, manufacture, and commercialization of oral dosage products. Its activities include developing generic pharmaceuticals and proprietary products, with an emphasis on controlled-release and abuse-deterrent formulations.

The company’s product portfolio and development programs have included opioid-related products, such as abuse-deterrent formulations designed to help reduce the potential for misuse, as well as other generic and specialty medicines.