Elite Pharmaceuticals (OTCMKTS:ELTP) Trading Down 6.1% - Here's What Happened

Key Points

• Elite Pharmaceuticals' stock dropped 6.1% to $0.65 during trading, significantly lower than its previous close of $0.69.
• During the trading session, only 228,117 shares were exchanged, indicating a dramatic decline of 82% from the typical volume of over 1.2 million shares.
• The company reported a negative EPS of ($0.01) for the last quarter, with total revenue of $40.21 million, reflecting ongoing financial challenges.

Elite Pharmaceuticals Inc. (OTCMKTS:ELTP - Get Free Report)'s stock price fell 6.1% during trading on Monday . The stock traded as low as $0.64 and last traded at $0.65. 228,117 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 1,295,085 shares. The stock had previously closed at $0.69.

Elite Pharmaceuticals Price Performance

The company has a current ratio of 7.23, a quick ratio of 5.44 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $724.84 million, a PE ratio of -67.53 and a beta of 0.25. The firm has a 50 day moving average price of $0.60 and a 200 day moving average price of $0.55.

Elite Pharmaceuticals (OTCMKTS:ELTP - Get Free Report) last issued its quarterly earnings results 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.

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