Short Interest in Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Declines By 7.7%

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,555,700 shares, a drop of 7.7% from the March 15th total of 1,684,700 shares. Based on an average trading volume of 1,083,800 shares, the days-to-cover ratio is presently 1.4 days.

Elite Pharmaceuticals Trading Up 3.7 %

Shares of ELTP traded up $0.01 during mid-day trading on Tuesday, hitting $0.14. 211,400 shares of the company’s stock traded hands, compared to its average volume of 1,281,031. Elite Pharmaceuticals has a 1 year low of $0.03 and a 1 year high of $0.21. The company has a quick ratio of 1.19, a current ratio of 1.94 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $149.56 million, a P/E ratio of 14.00 and a beta of -0.16. The business’s 50-day moving average price is $0.16 and its 200-day moving average price is $0.15.

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.