Short Interest in Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Decreases By 22.1%

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP - Get Free Report) saw a significant drop in short interest in the month of 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 days-to-cover ratio is presently 0.1 days.

Elite Pharmaceuticals Stock Performance

Shares of OTCMKTS ELTP traded down $0.06 during trading hours on Friday, hitting $0.52. 3,545,568 shares of the company's stock were exchanged, compared to its average volume of 4,856,221. The stock has a market capitalization of $553.04 million, a price-to-earnings ratio of 51.82 and a beta of 0.18. The company's 50-day moving average price is $0.45 and its 200-day moving average price is $0.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.09. Elite Pharmaceuticals has a 1-year low of $0.12 and a 1-year high of $0.75.

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.