Short Interest in Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Expands By 52.7%

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 2,526,500 shares, a growth of 52.7% from the November 15th total of 1,654,500 shares. Based on an average trading volume of 4,808,400 shares, the days-to-cover ratio is presently 0.5 days.

Elite Pharmaceuticals Stock Performance

Shares of ELTP stock remained flat at $0.55 during trading on Friday. 1,745,410 shares of the company traded hands, compared to its average volume of 1,678,753. The business’s fifty day moving average is $0.54 and its 200-day moving average is $0.34. Elite Pharmaceuticals has a twelve month low of $0.12 and a twelve month high of $0.75. The company has a market capitalization of $585.41 million, a price-to-earnings ratio of -54.80 and a beta of 0.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.52 and a quick ratio of 2.42.

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.