Mangoceuticals, Inc. (NASDAQ:MGRX) Short Interest Down 16.9% in March

Mangoceuticals, Inc. (NASDAQ:MGRX) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 1,016,081 shares, a decline of 16.9% from the March 15th total of 1,222,450 shares. Currently, 7.1% of the company’s stock are sold short. Based on an average trading volume of 28,351,294 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mangoceuticals in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Mangoceuticals has a consensus rating of “Sell”.

Institutional Investors Weigh In On Mangoceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Mangoceuticals in the 4th quarter valued at about $25,000. Boothbay Fund Management LLC bought a new stake in Mangoceuticals in the 4th quarter valued at about $28,000. Jane Street Group LLC bought a new stake in Mangoceuticals in the 4th quarter valued at about $35,000. Geode Capital Management LLC raised its stake in Mangoceuticals by 35.4% in the 2nd quarter. Geode Capital Management LLC now owns 26,498 shares of the company’s stock valued at $40,000 after acquiring an additional 6,928 shares during the period. Finally, Ikarian Capital LLC bought a new stake in Mangoceuticals in the 4th quarter valued at about $102,000. 56.72% of the stock is currently owned by institutional investors.

Mangoceuticals Trading Down 7.4%

Shares of NASDAQ:MGRX traded down $0.04 during midday trading on Friday, reaching $0.44. The company had a trading volume of 540,031 shares, compared to its average volume of 17,371,460. The company’s 50 day moving average price is $0.39 and its 200 day moving average price is $1.00. The stock has a market cap of $7.43 million, a P/E ratio of -0.17 and a beta of 2.54. Mangoceuticals has a 52-week low of $0.16 and a 52-week high of $2.88.

Mangoceuticals (NASDAQ:MGRX) last issued its quarterly earnings results on Wednesday, April 1st. The company reported $0.13 earnings per share for the quarter. Mangoceuticals had a negative net margin of 4,536.70% and a negative return on equity of 109.38%. The company had revenue of $0.09 million for the quarter.

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.