Elite Pharmaceuticals (OTCMKTS:ELTP) Shares Cross Below 200-Day Moving Average – Time to Sell?

Shares of Elite Pharmaceuticals Inc. (OTCMKTS:ELTP) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.57 and traded as low as $0.4056. Elite Pharmaceuticals shares last traded at $0.4456, with a volume of 490,676 shares changing hands.

Elite Pharmaceuticals Stock Up 3.0%

The stock has a market capitalization of $479.91 million, a P/E ratio of 44.60 and a beta of 0.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 8.04 and a quick ratio of 6.34. The stock has a fifty day moving average price of $0.49 and a 200 day moving average price of $0.57.

About Elite Pharmaceuticals

Elite Pharmaceuticals, Inc is a U.S.-based specialty pharmaceutical company that acquires, develops and markets both branded and generic pharmaceutical products. Headquartered in Houston, Texas, the company focuses on complex dosage forms—including injectables, sterile formulations and oncology therapies—and seeks to address unmet medical needs through advanced drug delivery technologies. Its product portfolio spans therapeutic areas such as pain management, oncology and cardiovascular care.

Since its founding in 2007, Elite Pharmaceuticals has pursued strategic partnerships and licensing agreements to expand its pipeline and manufacturing capabilities.