Mangoceuticals, Inc. (NASDAQ:MGRX) Short Interest Down 51.3% in April
by Amy Steele · The Cerbat GemMangoceuticals, Inc. (NASDAQ:MGRX – Get Free Report) saw a large drop in short interest in 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. Based on an average trading volume of 563,464 shares, the days-to-cover ratio is currently 0.8 days. Approximately 3.2% of the shares of the stock are short sold.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on MGRX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Mangoceuticals in a report on Friday, March 27th. Wall Street Zen raised Mangoceuticals to a “sell” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.
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Mangoceuticals Stock Up 11.9%
MGRX traded up $0.05 during midday trading on Friday, hitting $0.44. 798,966 shares of the company were exchanged, compared to its average volume of 798,507. The firm has a market capitalization of $7.47 million, a P/E ratio of -0.17 and a beta of 2.12. Mangoceuticals has a 1-year low of $0.16 and a 1-year high of $2.75. The firm’s 50 day moving average price is $0.38 and its 200-day moving average price is $0.74.
Mangoceuticals (NASDAQ:MGRX – Get Free Report) last announced its earnings results on Wednesday, April 1st. The company reported $0.13 EPS 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%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC acquired a new position in Mangoceuticals during the 4th quarter worth about $1,137,000. Ikarian Capital LLC bought a new position in shares of Mangoceuticals in the 4th quarter worth about $102,000. Geode Capital Management LLC raised its position in shares of Mangoceuticals by 35.4% in the 2nd quarter. Geode Capital Management LLC now owns 26,498 shares of the company’s stock worth $40,000 after acquiring an additional 6,928 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Mangoceuticals in the 4th quarter worth about $35,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Mangoceuticals in the 4th quarter worth about $28,000. 56.72% of the stock is owned by institutional investors and hedge funds.
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.