Mangoceuticals, Inc. (NASDAQ:MGRX) Short Interest Down 23.5% in January

Mangoceuticals, Inc. (NASDAQ:MGRX) was the recipient of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 536,149 shares, a drop of 23.5% from the December 31st total of 700,924 shares. Based on an average trading volume of 489,830 shares, the days-to-cover ratio is currently 1.1 days. Approximately 3.9% of the company’s shares are short sold. Approximately 3.9% of the company’s shares are short sold. Based on an average trading volume of 489,830 shares, the days-to-cover ratio is currently 1.1 days.

Wall Street Analyst Weigh In

MGRX has been the topic of several recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Mangoceuticals in a research report on Monday, December 29th. Wall Street Zen cut Mangoceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Mangoceuticals presently has a consensus rating of “Sell”.

Mangoceuticals Price Performance

Shares of NASDAQ MGRX traded down $0.04 during midday trading on Tuesday, reaching $0.39. 284,676 shares of the stock were exchanged, compared to its average volume of 482,628. Mangoceuticals has a 12 month low of $0.35 and a 12 month high of $6.15. The company has a market capitalization of $6.37 million, a price-to-earnings ratio of -0.11 and a beta of 2.71. The business has a 50-day simple moving average of $0.82 and a two-hundred day simple moving average of $1.57.

Mangoceuticals (NASDAQ:MGRX) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.69) EPS for the quarter. The business had revenue of $0.08 million for the quarter. Mangoceuticals had a negative return on equity of 114.63% and a negative net margin of 4,253.43%.

Insider Buying and Selling

In other Mangoceuticals news, Director Alex P. Hamilton sold 125,000 shares of Mangoceuticals stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $1.22, for a total transaction of $152,500.00. Following the completion of the sale, the director owned 3,334 shares of the company’s stock, valued at approximately $4,067.48. The trade was a 97.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 143,333 shares of company stock worth $173,700. 16.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mangoceuticals

A hedge fund recently raised its stake in Mangoceuticals stock. Geode Capital Management LLC lifted its holdings in Mangoceuticals, Inc. (NASDAQ:MGRX) by 35.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,498 shares of the company’s stock after purchasing an additional 6,928 shares during the quarter. Geode Capital Management LLC owned about 0.51% of Mangoceuticals worth $40,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.