Mangoceuticals, Inc. (NASDAQ:MGRX) Short Interest Update

Mangoceuticals, Inc. (NASDAQ:MGRX) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 42,200 shares, a decrease of 23.1% from the December 15th total of 54,900 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average trading volume of 167,600 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Mangoceuticals

An institutional investor recently bought a new position in Mangoceuticals stock. Ackerman Capital Advisors LLC acquired a new position in Mangoceuticals, Inc. (NASDAQ:MGRX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 873,356 shares of the company’s stock, valued at approximately $206,000. Ackerman Capital Advisors LLC owned 3.52% of Mangoceuticals as of its most recent filing with the Securities & Exchange Commission. 56.72% of the stock is currently owned by hedge funds and other institutional investors.

Mangoceuticals Stock Performance

Shares of MGRX stock traded down $0.07 during trading hours on Friday, reaching $2.61. The company had a trading volume of 38,847 shares, compared to its average volume of 44,268. The stock has a fifty day moving average of $2.52 and a 200-day moving average of $37.32. The company has a market capitalization of $6.50 million, a price-to-earnings ratio of -0.45 and a beta of 1.94. Mangoceuticals has a 12-month low of $2.07 and a 12-month high of $16.80.

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.