Elite Pharmaceuticals (OTCMKTS:ELTP) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.47 and traded as low as $0.46. Elite Pharmaceuticals shares last traded at $0.49, with a volume of 831,291 shares changing hands.

Elite Pharmaceuticals Stock Performance

The stock has a market capitalization of $523.39 million, a PE ratio of -24.50 and a beta of 0.27. The firm’s fifty day moving average is $0.51 and its 200-day moving average is $0.47. The company has a current ratio of 3.27, a quick ratio of 1.90 and a debt-to-equity ratio of 0.12.

Elite Pharmaceuticals (OTCMKTS:ELTP) last issued its quarterly earnings data on Thursday, February 13th. The specialty pharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter. Elite Pharmaceuticals had a negative net margin of 25.70% and a negative return on equity of 6.92%.

About Elite Pharmaceuticals

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.