Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Short Interest Update

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,560,500 shares, a drop of 22.1% from the October 15th total of 2,004,100 shares. Based on an average daily volume of 14,522,600 shares, the days-to-cover ratio is presently 0.1 days.

Elite Pharmaceuticals Stock Up 8.5 %

Shares of OTCMKTS ELTP traded up $0.04 during mid-day trading on Friday, reaching $0.56. 5,068,662 shares of the company’s stock traded hands, compared to its average volume of 1,654,732. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.09. The business has a 50-day simple moving average of $0.46 and a 200 day simple moving average of $0.28. The stock has a market cap of $599.83 million, a P/E ratio of 56.21 and a beta of 0.18. Elite Pharmaceuticals has a 1-year low of $0.12 and a 1-year high of $0.75.

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.