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

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

Mangoceuticals Trading Up 4.6%

NASDAQ MGRX opened at $0.40 on Friday. The firm has a market capitalization of $8.69 million, a PE ratio of -0.40 and a beta of 2.04. Mangoceuticals has a 12 month low of $0.16 and a 12 month high of $2.75. The business’s 50-day moving average price is $0.44 and its two-hundred day moving average price is $0.41.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on MGRX shares. Wall Street Zen raised shares of Mangoceuticals to a “sell” rating in a report on Saturday, July 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mangoceuticals in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Mangoceuticals currently has an average rating of “Sell”.

Institutional Investors Weigh In On Mangoceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of MGRX. Geode Capital Management LLC grew its position in 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 during the last quarter. Virtu Financial LLC bought a new stake in Mangoceuticals in the fourth quarter valued at approximately $25,000. Boothbay Fund Management LLC purchased a new stake in shares of Mangoceuticals during the fourth quarter valued at approximately $28,000. Jane Street Group LLC purchased a new stake in shares of Mangoceuticals during the fourth quarter valued at approximately $35,000. Finally, Ikarian Capital LLC bought a new position in shares of Mangoceuticals in the fourth quarter worth approximately $102,000. Institutional investors own 56.72% of the company’s stock.

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.