Mangoceuticals, Inc. (NASDAQ:MGRX) Short Interest Down 51.3% in April

Mangoceuticals, Inc. (NASDAQ:MGRX) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 451,464 shares, a drop of 51.3% from the April 15th total of 926,613 shares. Currently, 3.2% of the shares of the company are short sold. Based on an average daily volume of 563,464 shares, the short-interest ratio is presently 0.8 days.

Mangoceuticals Stock Up 11.9%

Shares of MGRX stock traded up $0.05 during trading hours on Friday, reaching $0.44. The company’s stock had a trading volume of 798,966 shares, compared to its average volume of 798,507. The firm’s 50 day simple moving average is $0.38 and its 200-day simple moving average is $0.74. The company has a market capitalization of $7.47 million, a price-to-earnings ratio of -0.17 and a beta of 2.12. Mangoceuticals has a fifty-two week low of $0.16 and a fifty-two week high of $2.75.

Mangoceuticals (NASDAQ:MGRX) last issued its earnings results on Wednesday, April 1st. The company reported $0.13 earnings per share for the quarter. The firm had revenue of $0.09 million for the quarter. Mangoceuticals had a negative return on equity of 109.38% and a negative net margin of 4,536.70%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MGRX. Wall Street Zen upgraded Mangoceuticals to a “sell” rating in a research note on Saturday, April 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mangoceuticals in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Mangoceuticals presently has an average rating of “Sell”.

Institutional Investors Weigh In On Mangoceuticals

Several hedge funds have recently modified their holdings of MGRX. Virtu Financial LLC acquired a new stake in shares of Mangoceuticals during the 4th quarter valued at $25,000. Boothbay Fund Management LLC acquired a new stake in shares of Mangoceuticals during the 4th quarter valued at $28,000. Jane Street Group LLC acquired a new stake in shares of Mangoceuticals during the 4th quarter valued at $35,000. Geode Capital Management LLC boosted its holdings in shares of Mangoceuticals by 35.4% during the 2nd quarter. Geode Capital Management LLC now owns 26,498 shares of the company’s stock valued at $40,000 after acquiring an additional 6,928 shares in the last quarter. Finally, Ikarian Capital LLC acquired a new stake in shares of Mangoceuticals during the 4th quarter valued at $102,000. Institutional investors and hedge funds 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.