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

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

Hedge Funds 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 disclosure with the Securities and Exchange Commission. The firm 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 Up 4.8 %

MGRX traded up $0.12 during trading on Friday, hitting $2.61. 49,094 shares of the company traded hands, compared to its average volume of 221,453. The firm has a market cap of $6.50 million, a P/E ratio of -0.45 and a beta of 2.09. Mangoceuticals has a one year low of $2.10 and a one year high of $16.80. The stock’s fifty day moving average is $9.43 and its 200 day moving average is $50.98.

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.