Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Short Interest Down 22.1% in October

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 1,560,500 shares, a drop of 22.1% from the October 15th total of 2,004,100 shares. Based on an average daily volume of 14,522,600 shares, the short-interest ratio is currently 0.1 days.

Elite Pharmaceuticals Trading Up 8.5 %

Shares of Elite Pharmaceuticals stock opened at $0.56 on Friday. Elite Pharmaceuticals has a 1-year low of $0.12 and a 1-year high of $0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.09. The stock has a market cap of $599.83 million, a P/E ratio of -56.15 and a beta of 0.18. The stock’s 50 day simple moving average is $0.46 and its 200-day simple moving average is $0.28.

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.