Mangoceuticals, Inc. (NASDAQ:MGRX) Sees Significant Drop in Short Interest

Mangoceuticals, Inc. (NASDAQ:MGRX) was the target of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 231,103 shares, a decline of 39.3% from the May 14th total of 380,693 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 494,880 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Mangoceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Mangoceuticals by 35.4% in the second quarter. Geode Capital Management LLC now owns 26,498 shares of the company’s stock worth $40,000 after purchasing an additional 6,928 shares during the period. Virtu Financial LLC acquired a new stake in Mangoceuticals in the fourth quarter worth approximately $25,000. Boothbay Fund Management LLC acquired a new stake in Mangoceuticals in the fourth quarter worth approximately $28,000. Jane Street Group LLC acquired a new stake in Mangoceuticals in the fourth quarter worth approximately $35,000. Finally, Ikarian Capital LLC acquired a new stake in Mangoceuticals in the fourth quarter worth approximately $102,000. 56.72% of the stock is currently owned by institutional investors and hedge funds.

Mangoceuticals Price Performance

Shares of NASDAQ MGRX traded up $0.00 during midday trading on Monday, hitting $0.36. 302,373 shares of the company’s stock were exchanged, compared to its average volume of 7,147,242. The stock’s 50 day moving average price is $0.40 and its 200-day moving average price is $0.55. The firm has a market cap of $6.18 million, a P/E ratio of -0.24 and a beta of 2.27. Mangoceuticals has a twelve month low of $0.16 and a twelve month high of $2.75.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on MGRX. Wall Street Zen upgraded Mangoceuticals to a “sell” rating in a research report on Saturday, May 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mangoceuticals in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

About Mangoceuticals

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.