Elite Pharmaceuticals (OTCMKTS:ELTP) Stock Price Down 10.2% - Time to Sell?

Shares of Elite Pharmaceuticals Inc. (OTCMKTS:ELTP - Get Free Report) dropped 10.2% during trading on Tuesday . The stock traded as low as $0.63 and last traded at $0.66. Approximately 2,367,422 shares traded hands during trading, an increase of 101% from the average daily volume of 1,178,457 shares. The stock had previously closed at $0.73.

Elite Pharmaceuticals Price Performance

The firm has a 50 day moving average of $0.55 and a 200-day moving average of $0.51. The company has a current ratio of 3.27, a quick ratio of 1.90 and a debt-to-equity ratio of 0.12. The company has a market cap of $716.87 million, a P/E ratio of -33.55 and a beta of 0.16.

Elite Pharmaceuticals (OTCMKTS:ELTP - Get Free Report) last issued its earnings results on Monday, June 30th. The specialty pharmaceutical company reported $0.01 earnings per share (EPS) for the quarter. Elite Pharmaceuticals had a negative return on equity of 6.92% and a negative net margin of 25.70%. The firm had revenue of $32.00 million for 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.

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