Short Interest in biote Corp. (NASDAQ:BTMD) Drops By 5.9%

biote Corp. (NASDAQ:BTMD) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 1,110,000 shares, a decrease of 5.9% from the August 31st total of 1,180,000 shares. Based on an average trading volume of 246,800 shares, the days-to-cover ratio is currently 4.5 days. Currently, 3.7% of the company’s stock are short sold.

biote Stock Performance

Shares of biote stock opened at $5.67 on Monday. biote has a 52 week low of $3.65 and a 52 week high of $8.44. The stock has a 50 day moving average price of $6.37 and a two-hundred day moving average price of $6.42. The stock has a market capitalization of $351.74 million, a PE ratio of 51.55 and a beta of 0.94.

biote (NASDAQ:BTMD) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $49.17 million for the quarter, compared to analyst estimates of $50.40 million. biote had a net margin of 3.67% and a negative return on equity of 20.92%. Research analysts forecast that biote will post 0.52 EPS for the current year.

Insider Buying and Selling

In other biote news, CFO Robert Charles Peterson sold 11,376 shares of biote stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $7.57, for a total value of $86,116.32. Following the completion of the sale, the chief financial officer now directly owns 32,874 shares of the company’s stock, valued at $248,856.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 13.90% of the stock is owned by insiders.

Institutional Trading of biote

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTMD. Allspring Global Investments Holdings LLC purchased a new position in shares of biote during the second quarter valued at approximately $42,000. The Manufacturers Life Insurance Company purchased a new position in biote during the 2nd quarter worth $84,000. Bailard Inc. purchased a new position in biote during the 2nd quarter worth $146,000. Rhumbline Advisers raised its holdings in shares of biote by 104.2% in the second quarter. Rhumbline Advisers now owns 28,225 shares of the company’s stock valued at $211,000 after purchasing an additional 14,404 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its position in shares of biote by 7.0% during the second quarter. WINTON GROUP Ltd now owns 47,725 shares of the company’s stock valued at $357,000 after purchasing an additional 3,124 shares in the last quarter. 21.68% of the stock is owned by institutional investors.

About biote

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.