Short Interest in Mangoceuticals, Inc. (NASDAQ:MGRX) Decreases By 55.8%

Mangoceuticals, Inc. (NASDAQ:MGRX) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 54,900 shares, a decline of 55.8% from the November 30th total of 124,200 shares. Based on an average trading volume of 384,300 shares, the short-interest ratio is currently 0.1 days. Approximately 4.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mangoceuticals stock. Ackerman Capital Advisors LLC acquired a new stake in Mangoceuticals, Inc. (NASDAQ:MGRX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 873,356 shares of the company’s stock, valued at approximately $206,000. Ackerman Capital Advisors LLC owned 3.52% of Mangoceuticals at the end of the most recent quarter. Institutional investors own 56.72% of the company’s stock.

Mangoceuticals Stock Performance

MGRX traded down $0.10 on Friday, hitting $2.52. 14,208 shares of the company were exchanged, compared to its average volume of 218,608. The firm has a fifty day simple moving average of $2.47 and a two-hundred day simple moving average of $45.15. The stock has a market capitalization of $6.27 million, a PE ratio of -0.44 and a beta of 2.09. Mangoceuticals has a 12 month low of $2.10 and a 12 month high of $16.80.

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.