Elite Pharmaceuticals (OTCMKTS:ELTP) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Elite Pharmaceuticals Inc. (OTCMKTS:ELTP) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.35 and traded as low as $0.2421. Elite Pharmaceuticals shares last traded at $0.2450, with a volume of 874,854 shares traded.

Elite Pharmaceuticals Price Performance

The business’s 50 day moving average price is $0.32 and its two-hundred day moving average price is $0.35. The stock has a market cap of $267.13 million, a P/E ratio of 6.20 and a beta of 0.37. The company has a current ratio of 3.76, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03.

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

Elite Pharmaceuticals Company Profile

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.