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

Mangoceuticals, Inc. (NASDAQ:MGRX) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 1,222,450 shares, a drop of 29.6% from the February 26th total of 1,737,241 shares. Based on an average daily trading volume, of 3,780,079 shares, the short-interest ratio is currently 0.3 days. Currently, 8.9% of the company’s shares are short sold.

Mangoceuticals Price Performance

Shares of NASDAQ MGRX traded up $0.12 during midday trading on Friday, hitting $0.49. The company’s stock had a trading volume of 6,719,848 shares, compared to its average volume of 18,942,076. The firm has a market capitalization of $7.94 million, a price-to-earnings ratio of -0.14 and a beta of 2.31. The business’s fifty day simple moving average is $0.42 and its two-hundred day simple moving average is $1.18. Mangoceuticals has a 1 year low of $0.16 and a 1 year high of $2.88.

Hedge Funds Weigh In On Mangoceuticals

Institutional investors have recently modified their holdings of the business. Armistice Capital LLC acquired a new stake in shares of Mangoceuticals in the fourth quarter valued at $1,137,000. Ikarian Capital LLC acquired a new position in Mangoceuticals during the 4th quarter worth $102,000. Geode Capital Management LLC increased its holdings in Mangoceuticals by 35.4% during 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 period. Jane Street Group LLC purchased a new stake in Mangoceuticals during the 4th quarter worth about $35,000. Finally, Boothbay Fund Management LLC acquired a new stake in Mangoceuticals in the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 56.72% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mangoceuticals in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus 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.