Elite Pharmaceuticals (OTCMKTS:ELTP) Stock Price Crosses 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 Tuesday . The stock has a two hundred day moving average of $0.49 and traded as low as $0.48. Elite Pharmaceuticals shares last traded at $0.48, with a volume of 407,701 shares trading hands.

Elite Pharmaceuticals Stock Performance

The firm’s 50 day moving average price is $0.49 and its two-hundred 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. The firm has a market cap of $507.58 million, a PE ratio of -23.76 and a beta of 0.14.

Elite Pharmaceuticals (OTCMKTS:ELTP) last posted its quarterly earnings results 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%.

Elite Pharmaceuticals Company Profile

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.