Mangoceuticals, Inc. (NASDAQ:MGRX) Short Interest Down 79.6% in October

Mangoceuticals, Inc. (NASDAQ:MGRX) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 20,700 shares, a decrease of 79.6% from the September 30th total of 101,600 shares. Based on an average daily volume of 337,200 shares, the short-interest ratio is presently 0.1 days. Currently, 1.6% of the shares of the stock are short sold.

Mangoceuticals Stock Performance

Shares of NASDAQ MGRX traded down $0.04 during midday trading on Friday, reaching $2.42. The stock had a trading volume of 437,597 shares, compared to its average volume of 246,092. The stock has a 50-day moving average of $50.23 and a 200-day moving average of $66.45. The company has a market capitalization of $4.82 million, a price-to-earnings ratio of -0.38 and a beta of 1.76. Mangoceuticals has a 12-month low of $2.14 and a 12-month high of $16.80.

Mangoceuticals (NASDAQ:MGRX) last posted its earnings results on Wednesday, August 14th. The company reported ($20.25) earnings per share for the quarter. The company had revenue of $0.16 million for the quarter. Mangoceuticals had a negative net margin of 1,053.93% and a negative return on equity of 243.34%.

Hedge Funds Weigh In On Mangoceuticals

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

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.