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

Mangoceuticals, Inc. (NASDAQ:MGRX – Get Free Report) was the target of a large 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. Based on an average daily volume of 494,880 shares, the short-interest ratio is presently 0.5 days. Approximately 1.6% of the company’s stock are short sold.

Mangoceuticals Stock Performance

NASDAQ MGRX opened at $0.33 on Wednesday. Mangoceuticals has a twelve month low of $0.16 and a twelve month high of $2.75. The stock has a market capitalization of $5.73 million, a PE ratio of -0.22 and a beta of 2.27. The stock has a 50-day simple moving average of $0.40 and a 200 day simple moving average of $0.54.

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

Institutional Trading of Mangoceuticals

Institutional investors have recently modified their holdings of the company. Armistice Capital LLC bought a new position in Mangoceuticals in the fourth quarter worth $1,137,000. Ikarian Capital LLC bought a new position in shares of Mangoceuticals during the 4th quarter worth about $102,000. Jane Street Group LLC bought a new stake in Mangoceuticals in the fourth quarter valued at about $35,000. Boothbay Fund Management LLC acquired a new position in Mangoceuticals in the fourth quarter worth about $28,000. Finally, Virtu Financial LLC bought a new position in Mangoceuticals during the fourth quarter worth about $25,000. Institutional investors and hedge funds own 56.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Mangoceuticals to a “sell” rating in a research report on Saturday, May 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mangoceuticals in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Check Out Our Latest Analysis on MGRX

Mangoceuticals Company Profile

(Get Free Report)

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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