Mangoceuticals (NASDAQ:MGRX) Trading 0.5% Higher – What’s Next?

Shares of Mangoceuticals, Inc. (NASDAQ:MGRX) shot up 0.5% during mid-day trading on Tuesday . The stock traded as high as $0.72 and last traded at $0.6608. 304,276 shares traded hands during trading, a decline of 72% from the average session volume of 1,101,502 shares. The stock had previously closed at $0.6574.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MGRX shares. Wall Street Zen cut Mangoceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Mangoceuticals in a research report on Monday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Mangoceuticals Trading Up 0.5%

The firm’s 50-day moving average is $1.38 and its two-hundred day moving average is $1.75. The stock has a market cap of $9.19 million, a price-to-earnings ratio of -0.19 and a beta of 2.56.

Mangoceuticals (NASDAQ:MGRX) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.69) earnings per share (EPS) for the quarter. Mangoceuticals had a negative return on equity of 114.63% and a negative net margin of 4,253.43%.The firm had revenue of $0.08 million during the quarter.

Insider Activity

In other news, Director Alex P. Hamilton sold 125,000 shares of Mangoceuticals stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $1.22, for a total value of $152,500.00. Following the sale, the director directly owned 3,334 shares of the company’s stock, valued at $4,067.48. The trade was a 97.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 143,333 shares of company stock valued at $173,700 over the last quarter. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Mangoceuticals stock. Geode Capital Management LLC grew its holdings in shares of Mangoceuticals, Inc. (NASDAQ:MGRX) by 35.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,498 shares of the company’s stock after purchasing an additional 6,928 shares during the quarter. Geode Capital Management LLC owned approximately 0.51% of Mangoceuticals worth $40,000 at the end of the most recent quarter. 56.72% of the stock is owned by institutional investors and hedge funds.

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. Mangoceuticals, Inc has a marketing agreement with Marius Pharmaceuticals, LLC to market and sell KYZATREX, an oral testosterone replacement therapy product under the PRIME program.