Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Sees Large Growth in Short Interest

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP - Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,834,800 shares, a growth of 10.5% from the August 15th total of 1,661,100 shares. Based on an average daily volume of 5,263,800 shares, the days-to-cover ratio is currently 0.3 days.

Elite Pharmaceuticals Price Performance

ELTP stock remained flat at $0.38 during midday trading on Wednesday. 1,393,660 shares of the company's stock traded hands, compared to its average volume of 1,253,249. The business has a fifty day moving average price of $0.24 and a two-hundred day moving average price of $0.18. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.08. Elite Pharmaceuticals has a 12-month low of $0.08 and a 12-month high of $0.42. The firm has a market cap of $408.64 million, a PE ratio of 38.25 and a beta 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.