Mannatech (NASDAQ:MTEX) Share Price Passes Above 50-Day Moving Average – Here’s Why

Shares of Mannatech, Incorporated (NASDAQ:MTEX) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $6.18 and traded as high as $8.15. Mannatech shares last traded at $8.15, with a volume of 22,312 shares.

Analysts Set New Price Targets

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

Mannatech Trading Down 4.2%

The business’s fifty day simple moving average is $6.25 and its 200-day simple moving average is $5.75. The firm has a market cap of $14.78 million, a P/E ratio of -1.96 and a beta of 0.75.

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

Mannatech Company Profile

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.