Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Sees Significant Increase in Short Interest

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) saw a significant increase in short interest during 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 daily trading volume, of 5,263,800 shares, the short-interest ratio is presently 0.3 days.

Elite Pharmaceuticals Stock Performance

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

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.