Elite Pharmaceuticals (OTCMKTS:ELTP) Shares Gap Down - Here's What Happened

Key Points

• Elite Pharmaceuticals shares experienced a gap down opening at $0.60, following a previous close of $0.62, and last traded at $0.61 with a volume of 111,569 shares.
• The company reported a quarterly earnings loss of ($0.01) EPS and revenue of $40.21 million with a negative return on equity of 9.88% and a negative net margin of 10.26%.
• Elite Pharmaceuticals has a market cap of $639.84 million, a quick ratio of 5.44, and a current ratio of 7.23, indicating strong liquidity despite recent performance issues.

Elite Pharmaceuticals Inc. (OTCMKTS:ELTP - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $0.62, but opened at $0.60. Elite Pharmaceuticals shares last traded at $0.61, with a volume of 111,569 shares.

Elite Pharmaceuticals Stock Performance

The company has a quick ratio of 5.44, a current ratio of 7.23 and a debt-to-equity ratio of 0.09. The company has a market cap of $639.84 million, a PE ratio of -59.60 and a beta of 0.15. The business's fifty day moving average is $0.63 and its 200-day moving average is $0.57.

Elite Pharmaceuticals (OTCMKTS:ELTP - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The specialty pharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter. Elite Pharmaceuticals had a negative return on equity of 9.88% and a negative net margin of 10.26%.The business had revenue of $40.21 million during the quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.