Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Short Interest Up 6.0% in November

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 1,654,500 shares, an increase of 6.0% from the October 31st total of 1,560,500 shares. Based on an average daily volume of 4,053,100 shares, the days-to-cover ratio is currently 0.4 days.

Elite Pharmaceuticals Price Performance

Elite Pharmaceuticals stock traded up $0.02 during mid-day trading on Tuesday, reaching $0.61. 2,165,271 shares of the stock traded hands, compared to its average volume of 2,105,527. The company has a quick ratio of 2.42, a current ratio of 3.52 and a debt-to-equity ratio of 0.10. Elite Pharmaceuticals has a 12-month low of $0.12 and a 12-month high of $0.75. The business’s 50-day moving average is $0.51 and its 200-day moving average is $0.32.

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.