Short Interest in Mangoceuticals, Inc. (NASDAQ:MGRX) Declines By 21.3%

Mangoceuticals, Inc. (NASDAQ:MGRX) saw a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 152,900 shares, a decrease of 21.3% from the October 31st total of 194,400 shares. Based on an average daily trading volume, of 362,400 shares, the days-to-cover ratio is presently 0.4 days. Currently, 11.2% of the company’s shares are sold short.

Mangoceuticals Price Performance

MGRX traded down $0.03 during midday trading on Friday, reaching $2.50. 59,037 shares of the company’s stock traded hands, compared to its average volume of 72,879. The stock has a market capitalization of $6.23 million, a price-to-earnings ratio of -0.43 and a beta of 2.08. Mangoceuticals has a 52 week low of $2.10 and a 52 week high of $16.80. The firm has a fifty day moving average of $20.09 and a two-hundred day moving average of $55.97.

Institutional Trading of Mangoceuticals

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

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.