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

Elite Pharmaceuticals Inc. (OTCMKTS:ELTP)’s share price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $0.34 and traded as low as $0.2160. Elite Pharmaceuticals shares last traded at $0.2287, with a volume of 1,868,124 shares.

Elite Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 3.76 and a quick ratio of 2.97. The company has a 50-day moving average price of $0.29 and a 200-day moving average price of $0.34. The firm has a market capitalization of $246.34 million, a PE ratio of 5.72 and a beta of 0.34.

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

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.