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

Key Points

• Elite Pharmaceuticals shares experienced a price jump, opening at $0.61 after closing at $0.53, with a last trading price of $0.59 and significant trading volume of over 1.1 million shares.
• The company reported a quarterly revenue of $40.21 million and earnings per share of ($0.01), with a positive return on equity of 3.96% despite a negative net margin of 5.13%.
• With a low debt-to-equity ratio of 0.08 and strong liquidity ratios (quick ratio of 3.50 and current ratio of 4.88), Elite Pharmaceuticals shows solid financial stability in its operations.

Elite Pharmaceuticals Inc. (OTCMKTS:ELTP - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $0.53, but opened at $0.61. Elite Pharmaceuticals shares last traded at $0.59, with a volume of 1,198,233 shares trading hands.

Elite Pharmaceuticals Stock Performance

The firm has a market cap of $614.68 million, a P/E ratio of -57.40 and a beta of 0.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.50 and a current ratio of 7.23. The company's 50 day moving average is $0.60 and its 200 day moving average is $0.52.

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

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.