Mannatech, Incorporated (NASDAQ:MTEX) Short Interest Down 60.3% in June

Mannatech, Incorporated (NASDAQ:MTEX) was the target of a large drop in short interest in June. As of June 30th, there was short interest totaling 11,358 shares, a drop of 60.3% from the June 15th total of 28,596 shares. Based on an average daily trading volume, of 25,175 shares, the short-interest ratio is currently 0.5 days. Currently, 1.0% of the shares of the stock are short sold.

Mannatech Stock Up 3.3%

MTEX traded up $0.15 during trading on Wednesday, reaching $4.71. The company had a trading volume of 4,592 shares, compared to its average volume of 23,641. The stock has a market cap of $9.09 million, a P/E ratio of -0.70 and a beta of 0.72. The business has a 50 day simple moving average of $5.14 and a 200-day simple moving average of $6.20. Mannatech has a 52 week low of $3.80 and a 52 week high of $12.45.

Mannatech (NASDAQ:MTEX) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.49 earnings per share for the quarter. Mannatech had a negative net margin of 11.97% and a negative return on equity of 2,383.34%. The business had revenue of $24.92 million for the quarter.

Insider Buying and Selling at Mannatech

In other Mannatech news, Director Kevin Andrew Robbins bought 7,100 shares of Mannatech stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average cost of $4.17 per share, for a total transaction of $29,607.00. Following the acquisition, the director directly owned 33,333 shares in the company, valued at approximately $138,998.61. This represents a 27.07% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have bought 14,903 shares of company stock valued at $62,155. Insiders own 41.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Mannatech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Mannatech Company Profile

Mannatech, Inc is a global health and wellness company that develops and markets a range of dietary supplements and personal care products through a direct selling business model. The company’s core focus is on glyconutrients, specialized carbohydrates believed to support cellular communication, which form the basis of many of its flagship offerings. Operating under a network marketing structure, Mannatech empowers independent associates to promote and distribute its products in markets around the world.

The company’s product portfolio includes nutritional supplements aimed at immune support, digestive health, and healthy aging, as well as skincare items designed to promote hydration and skin vitality.