Mangoceuticals, Inc. (NASDAQ:MGRX) Short Interest Down 46.1% in July

Mangoceuticals, Inc. (NASDAQ:MGRX) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 207,868 shares, a drop of 46.1% from the June 30th total of 385,972 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 627,822 shares, the short-interest ratio is presently 0.3 days.

Mangoceuticals Stock Down 0.6%

NASDAQ MGRX traded down $0.00 during trading hours on Wednesday, hitting $0.55. The company’s stock had a trading volume of 240,937 shares, compared to its average volume of 6,035,733. The stock has a fifty day moving average of $0.41 and a 200 day moving average of $0.42. Mangoceuticals has a twelve month low of $0.16 and a twelve month high of $2.75. The firm has a market capitalization of $9.49 million, a P/E ratio of -0.37 and a beta of 2.28.

Mangoceuticals (NASDAQ:MGRX) last issued its earnings results on Tuesday, May 19th. The company reported ($0.22) EPS for the quarter. Mangoceuticals had a negative net margin of 4,639.13% and a negative return on equity of 112.00%. The business had revenue of $0.07 million for the quarter.

Hedge Funds Weigh In On Mangoceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in shares of Mangoceuticals during the 4th quarter worth about $25,000. Boothbay Fund Management LLC acquired a new stake in shares of Mangoceuticals in the 4th quarter valued at approximately $28,000. Jane Street Group LLC acquired a new position in Mangoceuticals during the fourth quarter valued at approximately $35,000. Geode Capital Management LLC increased its stake in Mangoceuticals by 35.4% in the second quarter. Geode Capital Management LLC now owns 26,498 shares of the company’s stock valued at $40,000 after purchasing an additional 6,928 shares in the last quarter. Finally, Ikarian Capital LLC bought a new stake in Mangoceuticals in the fourth quarter valued at approximately $102,000. Institutional investors own 56.72% of the company’s stock.

Analyst Upgrades and Downgrades

MGRX has been the topic of several research reports. Wall Street Zen raised Mangoceuticals to a “sell” rating in a report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of Mangoceuticals in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Mangoceuticals presently has a consensus rating of “Sell”.

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.