Mannatech (NASDAQ:MTEX) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Mannatech, Incorporated (NASDAQ:MTEX) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.10 and traded as low as $5.40. Mannatech shares last traded at $5.71, with a volume of 9,832 shares.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Mannatech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Mannatech has a consensus rating of “Sell”.

Mannatech Price Performance

The firm has a market capitalization of $11.02 million, a P/E ratio of -0.85 and a beta of 0.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.59 and a current ratio of 1.09. The business has a 50 day simple moving average of $5.38 and a two-hundred day simple moving average of $7.10.

Mannatech (NASDAQ:MTEX) last announced its earnings results on Thursday, May 14th. The company reported $0.49 earnings per share for the quarter. The business had revenue of $24.92 million for the quarter. Mannatech had a negative return on equity of 2,383.34% and a negative net margin of 11.97%.

Insiders Place Their Bets

In other news, Director Kevin Andrew Robbins acquired 7,100 shares of Mannatech stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average cost of $4.17 per share, for a total transaction of $29,607.00. Following the transaction, the director owned 33,333 shares of the company’s stock, valued at $138,998.61. This trade represents a 27.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders bought 14,903 shares of company stock valued at $62,155. 41.50% of the stock is owned by corporate insiders.

Mannatech Company Profile

Mannatech, Inc is a global health and wellness company that develops and markets a range of dietary supplements and personal care products through a direct selling business model. The company’s core focus is on glyconutrients, specialized carbohydrates believed to support cellular communication, which form the basis of many of its flagship offerings. Operating under a network marketing structure, Mannatech empowers independent associates to promote and distribute its products in markets around the world.

The company’s product portfolio includes nutritional supplements aimed at immune support, digestive health, and healthy aging, as well as skincare items designed to promote hydration and skin vitality.