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 July. As of July 15th, there was short interest totaling 207,868 shares, a decrease of 46.1% from the June 30th total of 385,972 shares. Based on an average daily trading volume, of 627,822 shares, the short-interest ratio is currently 0.3 days. Approximately 1.4% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen upgraded Mangoceuticals to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mangoceuticals in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Mangoceuticals Price Performance

MGRX stock traded down $0.00 during trading hours on Wednesday, reaching $0.55. 240,937 shares of the stock were exchanged, compared to its average volume of 6,035,733. The firm’s 50-day moving average is $0.41 and its 200-day moving average is $0.42. Mangoceuticals has a 12 month low of $0.16 and a 12 month high of $2.75. The company has a market cap of $9.49 million, a price-to-earnings ratio of -0.37 and a beta of 2.28.

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

Institutional Trading of Mangoceuticals

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Mangoceuticals by 35.4% in the second quarter. Geode Capital Management LLC now owns 26,498 shares of the company’s stock valued at $40,000 after acquiring an additional 6,928 shares during the last quarter. Virtu Financial LLC bought a new position in Mangoceuticals in the fourth quarter valued at approximately $25,000. Boothbay Fund Management LLC acquired a new position in shares of Mangoceuticals during the 4th quarter worth approximately $28,000. Jane Street Group LLC acquired a new position in shares of Mangoceuticals during the 4th quarter worth approximately $35,000. Finally, Ikarian Capital LLC bought a new stake in shares of Mangoceuticals during the 4th quarter worth approximately $102,000. Institutional investors own 56.72% of the company’s stock.

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.