Short Interest in Mangoceuticals, Inc. (NASDAQ:MGRX) Drops By 23.5%

Mangoceuticals, Inc. (NASDAQ:MGRX) was the recipient of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 536,149 shares, a decrease of 23.5% from the December 31st total of 700,924 shares. Currently, 3.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 489,830 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 489,830 shares, the days-to-cover ratio is presently 1.1 days. Currently, 3.9% of the shares of the stock are sold short.

Mangoceuticals Stock Down 8.8%

MGRX stock traded down $0.04 during trading on Tuesday, hitting $0.39. The company had a trading volume of 284,676 shares, compared to its average volume of 482,628. The firm has a 50-day moving average price of $0.82 and a 200-day moving average price of $1.57. Mangoceuticals has a 12 month low of $0.35 and a 12 month high of $6.15. The stock has a market cap of $6.37 million, a price-to-earnings ratio of -0.11 and a beta of 2.71.

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

Insider Buying and Selling at Mangoceuticals

In other news, Director Alex P. Hamilton sold 125,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 3,334 shares of the company’s stock, valued at $4,067.48. The trade was a 97.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 143,333 shares of company stock worth $173,700 over the last three months. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Mangoceuticals stock. Geode Capital Management LLC lifted its holdings in shares of Mangoceuticals, Inc. (NASDAQ:MGRX) by 35.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,498 shares of the company’s stock after buying an additional 6,928 shares during the quarter. Geode Capital Management LLC owned about 0.51% of Mangoceuticals worth $40,000 at the end of the most recent quarter. 56.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MGRX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mangoceuticals in a research report on Monday, December 29th. Wall Street Zen lowered Mangoceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. One research analyst has rated the stock with a Sell rating, Based on 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.