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

Mangoceuticals, Inc. (NASDAQ:MGRX) was the recipient of a significant decline in short interest during 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. Currently, 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 494,880 shares, the days-to-cover ratio is currently 0.5 days.

Mangoceuticals Price Performance

Shares of NASDAQ MGRX traded up $0.00 during mid-day trading on Monday, hitting $0.36. The company had a trading volume of 302,373 shares, compared to its average volume of 7,147,242. The stock has a market cap of $6.18 million, a price-to-earnings ratio of -0.24 and a beta of 2.27. Mangoceuticals has a 12 month low of $0.16 and a 12 month high of $2.75. The firm’s 50 day simple moving average is $0.40 and its two-hundred day simple moving average is $0.55.

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

Institutional Trading of Mangoceuticals

Hedge funds have recently made changes to their positions in the stock. Armistice Capital LLC bought a new stake in shares of Mangoceuticals in the 4th quarter worth approximately $1,137,000. Ikarian Capital LLC bought a new stake in shares of Mangoceuticals in the 4th quarter worth approximately $102,000. Geode Capital Management LLC lifted its holdings in shares of Mangoceuticals by 35.4% in the 2nd 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 last quarter. Jane Street Group LLC bought a new stake in shares of Mangoceuticals in the 4th quarter worth approximately $35,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Mangoceuticals during the fourth quarter worth approximately $28,000. Institutional investors own 56.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MGRX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Mangoceuticals in a report on Friday, March 27th. Wall Street Zen raised Mangoceuticals to a “sell” rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company 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.