Mangoceuticals (NASDAQ:MGRX) Announces Earnings Results

Mangoceuticals (NASDAQ:MGRX) announced its earnings results on Wednesday. The company reported $0.13 earnings per share (EPS) for the quarter, Zacks reports. Mangoceuticals had a negative net margin of 4,253.43% and a negative return on equity of 114.63%. The firm had revenue of $0.09 million for the quarter.

Mangoceuticals Stock Down 1.1%

Shares of NASDAQ:MGRX traded down $0.00 during midday trading on Thursday, hitting $0.36. The stock had a trading volume of 387,639 shares, compared to its average volume of 12,302,864. The company’s 50-day moving average price is $0.40 and its 200-day moving average price is $1.15. Mangoceuticals has a fifty-two week low of $0.16 and a fifty-two week high of $2.88. The company has a market capitalization of $5.80 million, a P/E ratio of -0.10 and a beta of 2.54.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MGRX. Geode Capital Management LLC raised its position in Mangoceuticals by 35.4% during the second quarter. Geode Capital Management LLC now owns 26,498 shares of the company’s stock valued at $40,000 after purchasing an additional 6,928 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Mangoceuticals in the 4th quarter valued at $25,000. Boothbay Fund Management LLC acquired a new stake in shares of Mangoceuticals in the 4th quarter valued at $28,000. Jane Street Group LLC bought a new position in shares of Mangoceuticals in the 4th quarter valued at $35,000. Finally, Ikarian Capital LLC bought a new position in shares of Mangoceuticals in the 4th quarter valued at $102,000. 56.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mangoceuticals in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company 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.