Mangoceuticals, Inc. (NASDAQ:MGRX) Short Interest Update

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

Analyst Upgrades and Downgrades

MGRX has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Mangoceuticals to a “sell” rating in a report on Saturday, July 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mangoceuticals in a report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Mangoceuticals Trading Up 4.6%

MGRX opened at $0.40 on Friday. The stock has a fifty day simple moving average of $0.44 and a two-hundred day simple moving average of $0.41. Mangoceuticals has a 12-month low of $0.16 and a 12-month high of $2.75. The company has a market cap of $8.69 million, a price-to-earnings ratio of -0.40 and a beta of 2.04.

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

Hedge Funds Weigh In On Mangoceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of MGRX. Armistice Capital LLC bought a new stake in shares of Mangoceuticals in the fourth quarter worth approximately $1,137,000. Ikarian Capital LLC purchased a new position in shares of Mangoceuticals during the fourth quarter valued at approximately $102,000. Jane Street Group LLC bought a new position in Mangoceuticals during the fourth quarter valued at approximately $35,000. Boothbay Fund Management LLC bought a new position in Mangoceuticals during the fourth quarter valued at approximately $28,000. Finally, Virtu Financial LLC purchased a new stake in Mangoceuticals in the fourth quarter worth approximately $25,000. 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.