Mangoceuticals, Inc. (NASDAQ:MGRX) Sees Large Decline in Short Interest

Mangoceuticals, Inc. (NASDAQ:MGRX) was the target of a large decrease in short interest in January. As of January 30th, there was short interest totaling 321,070 shares, a decrease of 40.1% from the January 15th total of 536,149 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average trading volume of 399,153 shares, the days-to-cover ratio is currently 0.8 days. Based on an average trading volume of 399,153 shares, the days-to-cover ratio is currently 0.8 days. Currently, 2.3% of the company’s stock are short sold.

Insider Activity at Mangoceuticals

In other Mangoceuticals news, Director Alex P. Hamilton sold 125,000 shares of Mangoceuticals stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $1.22, for a total value of $152,500.00. Following the completion of the sale, the director owned 3,334 shares of the company’s stock, valued at approximately $4,067.48. This trade represents a 97.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 143,333 shares of company stock valued at $173,700. 16.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Mangoceuticals stock. Geode Capital Management LLC lifted its stake in shares of Mangoceuticals, Inc. (NASDAQ:MGRX) by 35.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,498 shares of the company’s stock after acquiring an additional 6,928 shares during the quarter. Geode Capital Management LLC owned approximately 0.51% of Mangoceuticals worth $40,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 56.72% of the company’s stock.

Mangoceuticals Trading Up 0.3%

MGRX stock traded up $0.00 during trading on Friday, reaching $0.40. The stock had a trading volume of 82,723 shares, compared to its average volume of 416,444. The firm has a market cap of $6.45 million, a PE ratio of -0.11 and a beta of 2.71. The stock’s 50 day moving average is $0.72 and its two-hundred day moving average is $1.50. Mangoceuticals has a 52 week low of $0.34 and a 52 week high of $6.15.

Mangoceuticals (NASDAQ:MGRX) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.69) EPS for the quarter. Mangoceuticals had a negative net margin of 4,253.43% and a negative return on equity of 114.63%. The business had revenue of $0.08 million for the quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on MGRX. Wall Street Zen downgraded Mangoceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mangoceuticals in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Mangoceuticals Company Profile

Mangoceuticals, Inc develops, markets, and sells various men's wellness products and services through a telemedicine platform in the United States. It offers erectile dysfunction (ED) products under the Mango brand and hair loss products under the Grow brand name. The company markets and sells these branded ED and hair loss products online through its website at MangoRx.com. Mangoceuticals, Inc has a marketing agreement with Marius Pharmaceuticals, LLC to market and sell KYZATREX, an oral testosterone replacement therapy product under the PRIME program.