Short Interest in Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Expands By 10.5%

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,834,800 shares, an increase of 10.5% from the August 15th total of 1,661,100 shares. Based on an average trading volume of 5,263,800 shares, the short-interest ratio is presently 0.3 days.

Elite Pharmaceuticals Stock Performance

OTCMKTS ELTP traded down $0.01 on Wednesday, reaching $0.38. 1,393,660 shares of the company’s stock traded hands, compared to its average volume of 1,253,772. Elite Pharmaceuticals has a fifty-two week low of $0.08 and a fifty-two week high of $0.42. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.09 and a current ratio of 3.08. The firm has a market cap of $408.64 million, a price-to-earnings ratio of 38.25 and a beta of 0.18. The stock has a 50 day moving average price of $0.23 and a 200-day moving average price of $0.18.

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.