biote Corp. (NASDAQ:BTMD) Short Interest Update

biote Corp. (NASDAQ:BTMD) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 553,643 shares, a drop of 57.0% from the June 15th total of 1,287,328 shares. Approximately 2.2% of the company’s stock are sold short. Based on an average trading volume of 624,792 shares, the short-interest ratio is presently 0.9 days.

biote Stock Up 3.2%

NASDAQ:BTMD traded up $0.07 during midday trading on Wednesday, reaching $2.26. The stock had a trading volume of 37,832 shares, compared to its average volume of 252,708. biote has a 12-month low of $1.27 and a 12-month high of $4.75. The firm has a fifty day simple moving average of $2.14 and a two-hundred day simple moving average of $2.07. The stock has a market cap of $84.93 million, a P/E ratio of 5.14 and a beta of 1.66.

biote (NASDAQ:BTMD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). biote had a net margin of 8.29% and a negative return on equity of 25.72%. The company had revenue of $44.94 million during the quarter, compared to analyst estimates of $46.02 million. On average, sell-side analysts anticipate that biote will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. First Trust Advisors LP grew its holdings in biote by 5.3% in the 2nd quarter. First Trust Advisors LP now owns 73,669 shares of the company’s stock worth $296,000 after buying an additional 3,675 shares in the last quarter. Man Group plc increased its position in shares of biote by 9.9% during the 3rd quarter. Man Group plc now owns 70,383 shares of the company’s stock valued at $211,000 after purchasing an additional 6,356 shares during the period. Geode Capital Management LLC lifted its holdings in shares of biote by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 620,256 shares of the company’s stock valued at $1,613,000 after buying an additional 8,016 shares during the period. Rice Hall James & Associates LLC raised its holdings in shares of biote by 3.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 250,019 shares of the company’s stock worth $338,000 after purchasing an additional 9,190 shares in the last quarter. Finally, Abel Hall LLC lifted its stake in biote by 60.3% during the first quarter. Abel Hall LLC now owns 27,921 shares of the company’s stock valued at $38,000 after purchasing an additional 10,507 shares during the last quarter. Institutional investors and hedge funds own 21.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BTMD. Truist Financial raised shares of biote to a “strong-buy” rating in a research report on Monday, June 15th. Weiss Ratings raised biote from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, biote has an average rating of “Moderate Buy” and a consensus target price of $2.75.

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.