biote Corp. (NASDAQ:BTMD) Sees Significant Increase in Short Interest

biote Corp. (NASDAQ:BTMD) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 1,190,000 shares, a growth of 6.3% from the May 15th total of 1,120,000 shares. Approximately 4.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 134,800 shares, the short-interest ratio is presently 8.8 days.

Analyst Ratings Changes

BTMD has been the subject of a number of research reports. Roth Mkm restated a “buy” rating and set a $9.00 target price (up from $8.00) on shares of biote in a report on Wednesday, March 13th. B. Riley initiated coverage on shares of biote in a research report on Tuesday, February 20th. They issued a “buy” rating and a $9.00 price target for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $8.11.

Institutional Investors Weigh In On biote

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTMD. SW Investment Management LLC purchased a new stake in biote in the 3rd quarter worth approximately $3,340,000. Acadian Asset Management LLC purchased a new stake in biote in the 3rd quarter worth approximately $712,000. Bandera Partners LLC increased its stake in shares of biote by 7.5% during the 4th quarter. Bandera Partners LLC now owns 1,832,732 shares of the company’s stock worth $9,054,000 after purchasing an additional 127,410 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of biote during the 3rd quarter worth $158,000. Finally, Barclays PLC increased its stake in shares of biote by 768.1% during the 3rd quarter. Barclays PLC now owns 24,490 shares of the company’s stock worth $126,000 after purchasing an additional 21,669 shares during the last quarter. Hedge funds and other institutional investors own 21.68% of the company’s stock.

biote Stock Performance

Shares of NASDAQ:BTMD opened at $6.55 on Wednesday. The company has a market cap of $406.36 million, a PE ratio of 59.55 and a beta of 0.95. biote has a 52 week low of $3.65 and a 52 week high of $8.22. The firm has a 50 day simple moving average of $6.06 and a 200 day simple moving average of $5.45.

biote (NASDAQ:BTMD) last released its earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.18. biote had a net margin of 4.30% and a negative return on equity of 36.67%. The company had revenue of $46.80 million during the quarter, compared to the consensus estimate of $47.09 million. On average, equities analysts predict that biote will post 0.55 earnings per share for the current year.

biote Company Profile

biote Corp. operates in practice-building business within the hormone optimization space. It trains physicians and nurse practitioners in hormone optimization using bioidentical hormone replacement pellet therapy in men and women experiencing hormonal imbalance. The company offers Biote Method, a comprehensive end-to-end practice building platform that provides Biote-certified practitioners with the components developed for practitioners in the hormone optimization space comprising Biote Method education, training, and certification services; practice management software that allows Biote-certified practitioners to order, track, and manage hormone optimization product inventory and other administrative requirements; inventory management software to monitor pellet inventory; and information regarding available hormone replacement therapy products, as well as digital and point-of-care marketing support.