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

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

biote Stock Performance

Shares of BTMD stock opened at $5.48 on Wednesday. The company has a market capitalization of $339.96 million, a PE ratio of 49.82 and a beta of 0.94. biote has a 52-week low of $3.65 and a 52-week high of $8.44. The business’s fifty day moving average is $6.27 and its 200 day moving average is $6.40.

biote (NASDAQ:BTMD) last announced its earnings results on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $49.17 million for the quarter, compared to analyst estimates of $50.40 million. biote had a negative return on equity of 20.92% and a net margin of 3.67%. On average, sell-side analysts forecast that biote will post 0.52 EPS for the current fiscal year.

Insider Activity at biote

In other biote news, CFO Robert Charles Peterson sold 11,376 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 32,874 shares in the company, valued at approximately $248,856.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On biote

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bandera Partners LLC grew its stake in biote by 7.5% in the 4th quarter. Bandera Partners LLC now owns 1,832,732 shares of the company’s stock worth $9,054,000 after buying an additional 127,410 shares in the last quarter. SW Investment Management LLC grew its position in biote by 3.5% in the fourth quarter. SW Investment Management LLC now owns 675,000 shares of the company’s stock worth $3,334,000 after acquiring an additional 22,651 shares in the last quarter. Bailard Inc. bought a new position in biote in the second quarter valued at $146,000. Bank of New York Mellon Corp increased its stake in biote by 59.0% in the second quarter. Bank of New York Mellon Corp now owns 94,318 shares of the company’s stock valued at $705,000 after acquiring an additional 34,999 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in biote during the second quarter valued at about $42,000. 21.68% of the stock is owned by hedge funds and other institutional investors.

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.