Mangoceuticals (NASDAQ:MGRX) Stock Price Up 0.5% – Here’s Why

Mangoceuticals, Inc. (NASDAQ:MGRX)’s share price was up 0.5% on Tuesday . The stock traded as high as $0.72 and last traded at $0.6608. Approximately 304,276 shares traded hands during trading, a decline of 72% from the average daily volume of 1,101,502 shares. The stock had previously closed at $0.6574.

Analyst Ratings Changes

MGRX has been the subject of several research analyst reports. Wall Street Zen cut Mangoceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mangoceuticals in a report on Monday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Mangoceuticals Stock Performance

The firm has a market cap of $9.19 million, a PE ratio of -0.19 and a beta of 2.56. The stock has a 50 day simple moving average of $1.38 and a two-hundred day simple moving average of $1.75.

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

Insider Activity at Mangoceuticals

In other news, Director Alex P. Hamilton sold 125,000 shares of Mangoceuticals stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $1.22, for a total transaction of $152,500.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 143,333 shares of company stock worth $173,700. 16.00% of the stock is owned by company insiders.

Institutional Trading of Mangoceuticals

An institutional investor recently raised its position in Mangoceuticals stock. Geode Capital Management LLC raised its position in Mangoceuticals, Inc. (NASDAQ:MGRX) by 35.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,498 shares of the company’s stock after buying an additional 6,928 shares during the period. Geode Capital Management LLC owned about 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.