Mangoceuticals, Inc. (NASDAQ:MGRX) Short Interest Update

Mangoceuticals, Inc. (NASDAQ:MGRX) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 194,400 shares, an increase of 839.1% from the October 15th total of 20,700 shares. Approximately 15.3% of the shares of the company are short sold. Based on an average trading volume of 353,300 shares, the short-interest ratio is presently 0.6 days.

Institutional Trading of Mangoceuticals

A hedge fund recently bought a new stake in Mangoceuticals stock. Ackerman Capital Advisors LLC acquired a new stake in shares of Mangoceuticals, Inc. (NASDAQ:MGRX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 873,356 shares of the company’s stock, valued at approximately $206,000. Ackerman Capital Advisors LLC owned 3.52% of Mangoceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 56.72% of the company’s stock.

Mangoceuticals Price Performance

Shares of MGRX traded down $0.03 during mid-day trading on Tuesday, hitting $2.44. The company’s stock had a trading volume of 116,243 shares, compared to its average volume of 237,652. Mangoceuticals has a fifty-two week low of $2.10 and a fifty-two week high of $16.80. The firm has a 50-day moving average price of $36.01 and a 200 day moving average price of $61.53. The stock has a market capitalization of $4.87 million, a price-to-earnings ratio of -0.38 and a beta of 2.08.

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

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.