Short Interest in Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Grows By 10.5%

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

Elite Pharmaceuticals Price Performance

Elite Pharmaceuticals stock opened at $0.38 on Wednesday. The business has a 50 day simple moving average of $0.23 and a 200 day simple moving average of $0.18. Elite Pharmaceuticals has a one year low of $0.08 and a one year high of $0.42. The company has a market capitalization of $408.64 million, a PE ratio of 38.25 and a beta of 0.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.08 and a quick ratio of 2.09.

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.