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

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Elite Pharmaceuticals Stock Performance

The company has a market capitalization of $507.58 million, a price-to-earnings ratio of -23.76 and a beta of 0.14. The company has a current ratio of 3.27, a quick ratio of 1.90 and a debt-to-equity ratio of 0.12. The stock’s fifty day simple moving average is $0.49 and its 200-day simple moving average is $0.49.

Elite Pharmaceuticals (OTCMKTS:ELTP) last released its earnings results on Thursday, February 13th. The specialty pharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter. Elite Pharmaceuticals had a negative return on equity of 6.92% and a negative net margin of 25.70%.

About Elite Pharmaceuticals

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.