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

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 trading volume of 14,522,600 shares, the short-interest ratio is currently 0.1 days.

Elite Pharmaceuticals Stock Performance

Shares of OTCMKTS:ELTP opened at $0.52 on Friday. The company has a market capitalization of $553.04 million, a price-to-earnings ratio of 57.51 and a beta of 0.18. The firm’s 50 day simple moving average is $0.45 and its 200 day simple moving average is $0.27. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.09. Elite Pharmaceuticals has a fifty-two week low of $0.12 and a fifty-two week high of $0.75.

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.