Mannatech, Incorporated (NASDAQ:MTEX) Shares Shorted: Short Interest Down 42.1% in September

Mannatech, Incorporated (NASDAQ:MTEX) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 12,840 shares, a decrease of 42.1% from the August 31st total of 22,195 shares. Based on an average daily volume of 92,879 shares, the days-to-cover ratio is currently 0.1 days. Currently, 1.3% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Mannatech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Mannatech presently has a consensus rating of “Sell”.

Mannatech Stock Down 2.5%

Mannatech stock traded down $0.18 during trading hours on Thursday, hitting $7.00. The stock had a trading volume of 10,233 shares, compared to its average volume of 25,114. Mannatech has a one year low of $3.80 and a one year high of $12.45. The business’s 50 day simple moving average is $6.62 and its 200-day simple moving average is $5.79. The stock has a market cap of $13.51 million, a price-to-earnings ratio of -1.79 and a beta of 0.75.

Mannatech (NASDAQ:MTEX) last announced its earnings results on Wednesday, August 12th. The company reported $0.53 earnings per share (EPS) for the quarter. The company had revenue of $26.65 million for the quarter. Mannatech had a negative return on equity of 2,383.34% and a negative net margin of 6.90%.

About Mannatech

Mannatech, Incorporated (NASDAQ: MTEX) develops and sells nutritional supplements, functional foods and personal-care products. Its offerings are designed to support areas such as general wellness, nutrition, energy and skincare, and include supplement powders, capsules, beverages and topical products.

The company primarily uses a direct-selling business model, marketing its products through independent associates and distributors as well as through online channels. Mannatech is known for products incorporating plant-based and other nutritional ingredients, including its Ambrotose and MannaBears product lines.

Founded in 1994, Mannatech is based in Flower Mound, Texas.