Mangoceuticals, Inc. (NASDAQ:MGRX) Sees Large Increase in Short Interest

Mangoceuticals, Inc. (NASDAQ:MGRX – Get Free Report) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 1,882,096 shares, an increase of 805.4% from the July 15th total of 207,868 shares. Currently, 13.1% of the shares of the company are sold short. Based on an average trading volume of 49,406,730 shares, the short-interest ratio is presently 0.0 days.

Mangoceuticals Stock Performance

Mangoceuticals stock traded up $0.01 during midday trading on Thursday, reaching $0.55. The company’s stock had a trading volume of 787,229 shares, compared to its average volume of 10,404,242. The firm has a market capitalization of $9.41 million, a PE ratio of -0.37 and a beta of 2.10. Mangoceuticals has a fifty-two week low of $0.16 and a fifty-two week high of $2.75. The stock’s 50 day simple moving average is $0.42 and its 200 day simple moving average is $0.41.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MGRX. Geode Capital Management LLC grew 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 acquiring an additional 6,928 shares during the period. Virtu Financial LLC acquired a new position in Mangoceuticals during the fourth quarter worth $25,000. Boothbay Fund Management LLC acquired a new position in Mangoceuticals during the fourth quarter worth $28,000. Jane Street Group LLC purchased a new stake in Mangoceuticals during the fourth quarter worth $35,000. Finally, Ikarian Capital LLC purchased a new stake in Mangoceuticals during the fourth quarter worth $102,000. 56.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

View Our Latest Research Report on Mangoceuticals

About Mangoceuticals

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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.

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