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

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

Institutional Inflows and Outflows

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

Mangoceuticals Stock Down 1.2 %

MGRX traded down $0.03 during midday trading on Wednesday, hitting $2.55. 40,092 shares of the company traded hands, compared to its average volume of 48,264. The company’s 50-day moving average is $2.51 and its 200 day moving average is $38.27. The firm has a market capitalization of $6.34 million, a PE ratio of -0.44 and a beta of 1.94. Mangoceuticals has a 52 week low of $2.07 and a 52 week 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.