Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Short Interest Down 7.7% in March

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,555,700 shares, a decline of 7.7% from the March 15th total of 1,684,700 shares. Based on an average daily trading volume, of 1,083,800 shares, the days-to-cover ratio is currently 1.4 days.

Elite Pharmaceuticals Price Performance

Shares of ELTP traded up $0.01 during trading hours on Tuesday, hitting $0.14. The stock had a trading volume of 211,400 shares, compared to its average volume of 1,281,031. The company’s fifty day moving average is $0.16 and its two-hundred day moving average is $0.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.94 and a quick ratio of 1.19. Elite Pharmaceuticals has a 52 week low of $0.03 and a 52 week high of $0.21. The stock has a market capitalization of $149.56 million, a price-to-earnings ratio of 14.01 and a beta of -0.16.

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.