Short Interest in Mangoceuticals, Inc. (NASDAQ:MGRX) Drops By 65.1%

Mangoceuticals, Inc. (NASDAQ:MGRX) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 632,502 shares, a decline of 65.1% from the August 15th total of 1,812,630 shares. Based on an average trading volume of 861,529 shares, the short-interest ratio is presently 0.7 days. Currently, 3.5% of the shares of the company are sold short.

Mangoceuticals Price Performance

MGRX traded up $0.02 during mid-day trading on Friday, hitting $0.40. The stock had a trading volume of 287,812 shares, compared to its average volume of 1,624,247. Mangoceuticals has a 1-year low of $0.16 and a 1-year high of $2.75. The firm has a market capitalization of $8.69 million, a price-to-earnings ratio of -0.40 and a beta of 2.04. The stock’s fifty day simple moving average is $0.44 and its 200-day simple moving average is $0.41.

Mangoceuticals (NASDAQ:MGRX) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.09) EPS for the quarter. Mangoceuticals had a negative return on equity of 96.39% and a negative net margin of 4,794.60%.The business had revenue of $0.08 million for the quarter.

Institutional Investors Weigh In On Mangoceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Mangoceuticals by 35.4% during 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 in the last quarter. Jane Street Group LLC bought a new stake in Mangoceuticals during the fourth quarter worth $35,000. Armistice Capital LLC acquired a new stake in Mangoceuticals in the 4th quarter valued at about $1,137,000. Boothbay Fund Management LLC acquired a new stake in shares of Mangoceuticals in the fourth quarter valued at approximately $28,000. Finally, Ikarian Capital LLC bought a new position in shares of Mangoceuticals in the fourth quarter valued at about $102,000. Institutional investors and hedge funds own 56.72% of the company’s stock.

Analyst Upgrades and Downgrades

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