Short Interest in Mangoceuticals, Inc. (NASDAQ:MGRX) Decreases By 18.8%

Mangoceuticals, Inc. (NASDAQ:MGRX) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 124,200 shares, a drop of 18.8% from the November 15th total of 152,900 shares. Approximately 9.1% of the company’s stock are short sold. Based on an average daily volume of 365,800 shares, the days-to-cover ratio is currently 0.3 days.

Mangoceuticals Price Performance

Shares of MGRX traded up $0.12 during trading hours on Friday, hitting $2.61. The stock had a trading volume of 49,094 shares, compared to its average volume of 221,453. The firm has a 50 day simple moving average of $9.43 and a 200-day simple moving average of $50.69. Mangoceuticals has a 1-year low of $2.10 and a 1-year high of $16.80. The firm has a market capitalization of $6.49 million, a P/E ratio of -0.45 and a beta of 2.09.

Institutional Investors Weigh In On Mangoceuticals

An institutional investor recently bought a new position in Mangoceuticals stock. Ackerman Capital Advisors LLC bought a new position in shares of Mangoceuticals, Inc. (NASDAQ:MGRX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 873,356 shares of the company’s stock, valued at approximately $206,000. Ackerman Capital Advisors LLC owned approximately 3.52% of Mangoceuticals at the end of the most recent reporting period. 56.72% of the stock is owned by institutional investors.

About Mangoceuticals

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.