Mangoceuticals, Inc. (NASDAQ:MGRX) Short Interest Up 805.4% in July

Mangoceuticals, Inc. (NASDAQ:MGRX) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 1,882,096 shares, an increase of 805.4% from the July 15th total of 207,868 shares. Currently, 13.1% of the company’s stock are short sold. Based on an average daily trading volume, of 49,406,730 shares, the short-interest ratio is currently 0.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MGRX. Armistice Capital LLC acquired a new stake in Mangoceuticals during the 4th quarter worth about $1,137,000. Ikarian Capital LLC purchased a new stake in Mangoceuticals in the fourth quarter valued at approximately $102,000. Jane Street Group LLC purchased a new position in Mangoceuticals during the 4th quarter worth approximately $35,000. Boothbay Fund Management LLC acquired a new stake in Mangoceuticals during the 4th quarter valued at approximately $28,000. Finally, Virtu Financial LLC acquired a new stake in Mangoceuticals during the 4th quarter valued at approximately $25,000. Institutional investors and hedge funds own 56.72% of the company’s stock.

Mangoceuticals Trading Down 1.8%

Shares of MGRX traded down $0.01 during midday trading on Wednesday, hitting $0.54. 577,298 shares of the company’s stock traded hands, compared to its average volume of 10,464,505. The stock has a market capitalization of $9.20 million, a price-to-earnings ratio of -0.36 and a beta of 2.10. Mangoceuticals has a 1 year low of $0.16 and a 1 year high of $2.75. The firm’s fifty day moving average is $0.42 and its 200-day moving average is $0.41.

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

Analysts Set New Price Targets

MGRX has been the topic of a number of analyst reports. Wall Street Zen upgraded Mangoceuticals to a “sell” rating in a report on Saturday, July 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mangoceuticals in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus 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.