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

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) saw a significant 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 trading volume, of 14,522,600 shares, the days-to-cover ratio is presently 0.1 days.

Elite Pharmaceuticals Stock Performance

Shares of ELTP stock opened at $0.56 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.09 and a current ratio of 3.08. The firm has a market cap of $599.83 million, a P/E ratio of -56.15 and a beta of 0.18. The firm’s 50 day moving average price is $0.46 and its 200-day moving average price is $0.28. Elite Pharmaceuticals has a one year low of $0.12 and a one 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.