Mangoceuticals, Inc. (NASDAQ:MGRX) Sees Significant Drop in Short Interest

Mangoceuticals, Inc. (NASDAQ:MGRX) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 91,564 shares, a drop of 79.1% from the September 30th total of 438,786 shares. Based on an average trading volume of 739,664 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several brokerages have issued reports on MGRX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mangoceuticals in a report on Monday, September 21st. Wall Street Zen upgraded shares of Mangoceuticals to a “sell” rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Mangoceuticals Trading Down 1.5%

Shares of NASDAQ MGRX traded down $0.00 during trading on Thursday, reaching $0.25. The company had a trading volume of 233,812 shares, compared to its average volume of 8,086,604. Mangoceuticals has a twelve month low of $0.16 and a twelve month high of $2.41. The stock has a 50-day moving average price of $0.39 and a two-hundred day moving average price of $0.42. The stock has a market capitalization of $5.48 million, a PE ratio of -0.25 and a beta of 1.98.

Mangoceuticals (NASDAQ:MGRX) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.09) EPS for the quarter. The company had revenue of $0.08 million for the quarter. Mangoceuticals had a negative net margin of 4,794.60% and a negative return on equity of 96.39%.

About Mangoceuticals

Mangoceuticals, Inc, doing business as MangoRx, is a men’s health and wellness company that operates a direct-to-consumer telehealth platform. The company provides online access to healthcare consultations, prescription treatments and related products designed to address common men’s health concerns.

Its offerings have included treatments for erectile dysfunction and hair loss, as well as other wellness categories such as testosterone support and weight management. Products are generally marketed through the company’s digital platform and may be provided through prescriptions issued by independent licensed healthcare professionals, where appropriate.

Mangoceuticals serves customers in the United States through its online healthcare model.