Mannatech, Incorporated (NASDAQ:MTEX) Short Interest Down 60.3% in June

Mannatech, Incorporated (NASDAQ:MTEX) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 11,358 shares, a decline of 60.3% from the June 15th total of 28,596 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily volume of 25,175 shares, the short-interest ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Mannatech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Insider Buying and Selling

In related news, Director Kevin Andrew Robbins acquired 7,100 shares of the stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $4.17 per share, with a total value of $29,607.00. Following the completion of the purchase, the director directly owned 33,333 shares in the company, valued at $138,998.61. This trade represents a 27.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders purchased 14,903 shares of company stock worth $62,155. Insiders own 41.50% of the company’s stock.

Mannatech Price Performance

Shares of MTEX stock opened at $4.70 on Monday. The firm has a 50-day moving average of $5.14 and a 200-day moving average of $6.25. The company has a market cap of $9.07 million, a P/E ratio of -0.70 and a beta of 0.72. Mannatech has a one year low of $3.80 and a one year high of $12.45.

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

About Mannatech

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.