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

Mangoceuticals, Inc. (NASDAQ:MGRX) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 152,900 shares, a decline of 21.3% from the October 31st total of 194,400 shares. Approximately 11.2% of the shares of the stock are sold short. Based on an average daily volume of 362,400 shares, the days-to-cover ratio is currently 0.4 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) 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. 56.72% of the stock is owned by institutional investors and hedge funds.

Mangoceuticals Trading Down 1.2 %

MGRX traded down $0.03 on Friday, hitting $2.50. 59,037 shares of the company’s stock traded hands, compared to its average volume of 72,879. Mangoceuticals has a one year low of $2.10 and a one year high of $16.80. The firm has a market cap of $6.23 million, a price-to-earnings ratio of -0.43 and a beta of 2.08. The company’s 50 day simple moving average is $20.09 and its 200-day simple moving average is $55.97.

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.