Mangoceuticals, Inc. (NASDAQ:MGRX) Short Interest Up 30.4% in December

Mangoceuticals, Inc. (NASDAQ:MGRX) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 700,924 shares, a growth of 30.4% from the December 15th total of 537,445 shares. Based on an average daily trading volume, of 1,779,905 shares, the days-to-cover ratio is presently 0.4 days. Approximately 6.0% of the shares of the company are short sold. Approximately 6.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,779,905 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Mangoceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mangoceuticals in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Mangoceuticals presently has an average rating of “Sell”.

Insider Buying and Selling

In related news, Director Alex P. Hamilton sold 125,000 shares of Mangoceuticals stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $1.22, for a total transaction of $152,500.00. Following the completion of the transaction, the director directly owned 3,334 shares in the company, valued at approximately $4,067.48. This trade represents a 97.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 143,333 shares of company stock worth $173,700 over the last quarter. 16.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Mangoceuticals stock. Geode Capital Management LLC boosted its stake in shares of Mangoceuticals, Inc. (NASDAQ:MGRX) by 35.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,498 shares of the company’s stock after buying an additional 6,928 shares during the quarter. Geode Capital Management LLC owned 0.51% of Mangoceuticals worth $40,000 as of its most recent SEC filing. 56.72% of the stock is owned by hedge funds and other institutional investors.

Mangoceuticals Stock Performance

Shares of NASDAQ MGRX traded down $0.04 during midday trading on Friday, reaching $0.63. 406,147 shares of the stock were exchanged, compared to its average volume of 1,131,970. The stock has a market capitalization of $10.18 million, a P/E ratio of -0.18 and a beta of 2.68. The company has a 50 day simple moving average of $1.04 and a 200 day simple moving average of $1.65. Mangoceuticals has a twelve month low of $0.52 and a twelve month high of $6.15.

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

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.