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

by · The Markets Daily

Mangoceuticals, Inc. (NASDAQ:MGRX – Get Free Report) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 194,400 shares, a growth of 839.1% from the October 15th total of 20,700 shares. Currently, 15.3% of the company’s stock are sold short. Based on an average trading volume of 353,300 shares, the short-interest ratio is currently 0.6 days.

Hedge Funds Weigh In On Mangoceuticals

A hedge fund recently bought a new stake in Mangoceuticals stock. Ackerman Capital Advisors LLC purchased a new position in shares of Mangoceuticals, Inc. (NASDAQ:MGRX – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 873,356 shares of the company’s stock, valued at approximately $206,000. Ackerman Capital Advisors LLC owned about 3.52% of Mangoceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 56.72% of the company’s stock.

Mangoceuticals Trading Down 1.2 %

MGRX stock traded down $0.03 during midday trading on Tuesday, hitting $2.44. The company’s stock had a trading volume of 116,243 shares, compared to its average volume of 237,652. The firm’s 50-day moving average is $36.01 and its 200-day moving average is $61.53. The company has a market cap of $4.87 million, a PE ratio of -0.38 and a beta of 2.08. Mangoceuticals has a 12 month low of $2.10 and a 12 month high of $16.80.

Mangoceuticals (NASDAQ:MGRX – Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($20.25) earnings per share for the quarter. The firm had revenue of $0.16 million for the quarter. Mangoceuticals had a negative net margin of 1,053.93% and a negative return on equity of 243.34%.

About Mangoceuticals

(Get Free Report)

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.

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