Short Interest in Mangoceuticals, Inc. (NASDAQ:MGRX) Declines By 46.1%

Mangoceuticals, Inc. (NASDAQ:MGRX) was the recipient of a significant drop in short interest in July. As of July 15th, there was short interest totaling 207,868 shares, a drop of 46.1% from the June 30th total of 385,972 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average trading volume of 627,822 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Mangoceuticals

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Mangoceuticals by 35.4% in the 2nd quarter. Geode Capital Management LLC now owns 26,498 shares of the company’s stock worth $40,000 after acquiring an additional 6,928 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Mangoceuticals during the 4th quarter valued at about $25,000. Boothbay Fund Management LLC purchased a new position in shares of Mangoceuticals during the 4th quarter valued at about $28,000. Jane Street Group LLC bought a new position in shares of Mangoceuticals during the 4th quarter valued at approximately $35,000. Finally, Ikarian Capital LLC bought a new position in shares of Mangoceuticals during the 4th quarter valued at approximately $102,000. 56.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MGRX. Weiss Ratings reissued a “sell (e+)” rating on shares of Mangoceuticals in a research note on Wednesday, June 24th. Wall Street Zen upgraded Mangoceuticals to a “sell” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Mangoceuticals has a consensus rating of “Sell”.

Mangoceuticals Price Performance

MGRX traded down $0.24 during midday trading on Thursday, reaching $0.31. 10,104,653 shares of the company’s stock traded hands, compared to its average volume of 6,058,736. The stock has a market capitalization of $5.32 million, a price-to-earnings ratio of -0.21 and a beta of 2.28. Mangoceuticals has a 52 week low of $0.16 and a 52 week high of $2.75. The firm has a fifty day moving average of $0.41 and a two-hundred day moving average of $0.42.

Mangoceuticals (NASDAQ:MGRX) last announced its earnings results on Tuesday, May 19th. The company reported ($0.22) EPS for the quarter. The business had revenue of $0.07 million for the quarter. Mangoceuticals had a negative net margin of 4,639.13% and a negative return on equity of 112.00%.

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.