Elite Pharmaceuticals (OTCMKTS:ELTP) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Shares of Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.50 and traded as low as $0.39. Elite Pharmaceuticals shares last traded at $0.41, with a volume of 278,667 shares trading hands.

Elite Pharmaceuticals Price Performance

The company has a market cap of $433.97 million, a PE ratio of -20.31 and a beta of 0.07. The company has a quick ratio of 1.90, a current ratio of 3.27 and a debt-to-equity ratio of 0.12. The firm has a 50 day simple moving average of $0.47 and a 200-day simple moving average of $0.50.

Elite Pharmaceuticals (OTCMKTS:ELTP) last issued its quarterly earnings data on Thursday, February 13th. The specialty pharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter. Elite Pharmaceuticals had a negative return on equity of 6.92% and a negative net margin of 25.70%.

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.