Mangoceuticals, Inc. (NASDAQ:MGRX) Sees Large Drop in Short Interest

Mangoceuticals, Inc. (NASDAQ:MGRX) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 152,900 shares, a drop of 21.3% from the October 31st total of 194,400 shares. Currently, 11.2% of the shares of the company are sold short. Based on an average daily volume of 362,400 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

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 the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period. Institutional investors own 56.72% of the company’s stock.

Mangoceuticals Stock Performance

Shares of Mangoceuticals stock opened at $2.53 on Friday. The firm’s 50 day simple moving average is $22.22 and its two-hundred day simple moving average is $56.73. Mangoceuticals has a 12-month low of $2.10 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.