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

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

Institutional Inflows and Outflows

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

Mangoceuticals Stock Up 1.8 %

NASDAQ MGRX opened at $2.53 on Friday. The stock has a 50-day moving average of $22.22 and a 200 day moving average of $56.73. Mangoceuticals has a twelve month low of $2.10 and a twelve 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.