Short Interest in Mangoceuticals, Inc. (NASDAQ:MGRX) Drops By 46.1%

Mangoceuticals, Inc. (NASDAQ:MGRX) was the recipient of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 207,868 shares, a decrease of 46.1% from the June 30th total of 385,972 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average trading volume of 627,822 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Mangoceuticals by 35.4% in the second quarter. Geode Capital Management LLC now owns 26,498 shares of the company’s stock worth $40,000 after acquiring an additional 6,928 shares during the period. Jane Street Group LLC purchased a new position in shares of Mangoceuticals in the 4th quarter valued at about $35,000. Armistice Capital LLC purchased a new position in shares of Mangoceuticals in the 4th quarter valued at about $1,137,000. Boothbay Fund Management LLC acquired a new position in Mangoceuticals in the 4th quarter worth about $28,000. Finally, Ikarian Capital LLC acquired a new position in Mangoceuticals in the 4th quarter worth about $102,000. Hedge funds and other institutional investors own 56.72% of the company’s stock.

Mangoceuticals Price Performance

NASDAQ:MGRX traded up $0.31 during trading hours on Friday, reaching $0.60. The company had a trading volume of 474,362,405 shares, compared to its average volume of 9,746,467. Mangoceuticals has a 1-year low of $0.16 and a 1-year high of $2.75. The business’s 50 day moving average price is $0.41 and its 200-day moving average price is $0.42. The firm has a market cap of $10.39 million, a PE ratio of -0.41 and a beta of 2.28.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on MGRX shares. Weiss Ratings restated a “sell (e+)” rating on shares of Mangoceuticals in a research report on Wednesday, June 24th. Wall Street Zen raised Mangoceuticals to a “sell” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Mangoceuticals presently has an average rating of “Sell”.

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.