Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Sees Large Decrease in Short Interest

by · The Markets Daily

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP – Get Free Report) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 2,036,000 shares, a decrease of 7.3% from the September 15th total of 2,195,500 shares. Based on an average trading volume of 3,219,800 shares, the days-to-cover ratio is presently 0.6 days.

Elite Pharmaceuticals Price Performance

OTCMKTS ELTP opened at $0.49 on Thursday. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. The company has a market cap of $518.11 million, a PE ratio of 48.50 and a beta of 0.19. Elite Pharmaceuticals has a 52 week low of $0.09 and a 52 week high of $0.49. The firm’s 50-day simple moving average is $0.32 and its two-hundred day simple moving average is $0.22.

Elite Pharmaceuticals Company Profile

(Get Free Report)

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.

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