Mangoceuticals (NASDAQ:MGRX) Shares Up 0.4% – What’s Next?

Shares of Mangoceuticals, Inc. (NASDAQ:MGRX) shot up 0.4% on Monday . The company traded as high as $2.63 and last traded at $2.40. 380,109 shares were traded during trading, an increase of 55% from the average session volume of 244,543 shares. The stock had previously closed at $2.39.

Analysts Set New Price Targets

A number of research firms have weighed in on MGRX. Wall Street Zen raised shares of Mangoceuticals from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mangoceuticals in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Mangoceuticals has a consensus rating of “Sell”.

Mangoceuticals Stock Performance

The business’s 50-day moving average is $2.15 and its two-hundred day moving average is $1.92. The stock has a market capitalization of $25.29 million, a PE ratio of -0.62 and a beta of 2.39.

Mangoceuticals (NASDAQ:MGRX) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.57) earnings per share for the quarter. The firm had revenue of $0.17 million during the quarter. Mangoceuticals had a negative net margin of 2,757.86% and a negative return on equity of 85.01%.

Institutional Investors Weigh In On Mangoceuticals

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

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.