Elite Pharmaceuticals (OTCMKTS:ELTP) Shares Break Below Two Hundred Day Moving Average – Time to Sell?

Shares of Elite Pharmaceuticals Inc. (OTCMKTS:ELTP) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $0.34 and traded as low as $0.25. Elite Pharmaceuticals shares last traded at $0.2550, with a volume of 384,888 shares trading hands.

Elite Pharmaceuticals Stock Performance

The stock has a market cap of $268.42 million, a price-to-earnings ratio of 6.23 and a beta of 0.34. The company’s fifty day simple moving average is $0.28 and its two-hundred day simple moving average is $0.33. 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 issued its quarterly earnings data 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 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.