Short Interest in Mangoceuticals, Inc. (NASDAQ:MGRX) Declines By 40.1%

Mangoceuticals, Inc. (NASDAQ:MGRX) was the target of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 321,070 shares, a drop of 40.1% from the January 15th total of 536,149 shares. Based on an average daily trading volume, of 399,153 shares, the days-to-cover ratio is presently 0.8 days. Currently, 2.3% of the company’s stock are short sold. Currently, 2.3% of the company’s stock are short sold. Based on an average daily trading volume, of 399,153 shares, the days-to-cover ratio is presently 0.8 days.

Mangoceuticals Stock Performance

MGRX traded up $0.00 during trading on Friday, reaching $0.40. 82,766 shares of the stock were exchanged, compared to its average volume of 375,046. The stock’s 50 day moving average price is $0.71 and its two-hundred day moving average price is $1.49. Mangoceuticals has a twelve month low of $0.34 and a twelve month high of $6.15. The stock has a market cap of $6.45 million, a P/E ratio of -0.11 and a beta of 2.71.

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

Insider Buying and Selling

In other Mangoceuticals news, Director Alex P. Hamilton sold 125,000 shares of the company’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 transaction of $152,500.00. Following the completion of the transaction, the director owned 3,334 shares of the company’s stock, valued at $4,067.48. This represents a 97.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 143,333 shares of company stock valued at $173,700. Insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Mangoceuticals

An institutional investor recently raised its position in Mangoceuticals stock. Geode Capital Management LLC lifted its stake in shares of Mangoceuticals, Inc. (NASDAQ:MGRX) by 35.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent SEC filing. Institutional investors and hedge funds own 56.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MGRX shares. Weiss Ratings restated a “sell (e+)” rating on shares of Mangoceuticals in a report on Monday, December 29th. Wall Street Zen downgraded shares of 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, the stock presently 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.