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

Mangoceuticals, Inc. (NASDAQ:MGRX) saw a significant decline in short interest in 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. Currently, 1.6% of the company’s shares are sold short. Based on an average daily trading volume, of 494,880 shares, the days-to-cover ratio is presently 0.5 days.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in Mangoceuticals by 35.4% during the second quarter. Geode Capital Management LLC now owns 26,498 shares of the company’s stock valued at $40,000 after purchasing an additional 6,928 shares during the last quarter. Virtu Financial LLC acquired a new position in Mangoceuticals in the 4th quarter worth about $25,000. Boothbay Fund Management LLC acquired a new position in Mangoceuticals in the 4th quarter worth about $28,000. Jane Street Group LLC acquired a new position in Mangoceuticals in the 4th quarter worth about $35,000. Finally, Ikarian Capital LLC acquired a new position in Mangoceuticals in the 4th quarter worth about $102,000. 56.72% of the stock is currently owned by institutional investors.

Mangoceuticals Trading Down 7.2%

MGRX stock traded down $0.03 on Tuesday, hitting $0.33. The company’s stock had a trading volume of 177,450 shares, compared to its average volume of 380,816. The stock has a market cap of $5.73 million, a price-to-earnings ratio of -0.22 and a beta of 2.27. Mangoceuticals has a 1 year low of $0.16 and a 1 year high of $2.75. The firm has a 50 day moving average of $0.40 and a two-hundred day moving average of $0.54.

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

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.