Short Interest in biote Corp. (NASDAQ:BTMD) Decreases By 7.3%

biote Corp. (NASDAQ:BTMD) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 881,500 shares, a decline of 7.3% from the September 30th total of 951,100 shares. Approximately 3.0% of the company’s shares are sold short. Based on an average daily trading volume, of 174,400 shares, the short-interest ratio is presently 5.1 days.

biote Stock Performance

BTMD stock traded down $0.03 on Wednesday, reaching $5.20. The company’s stock had a trading volume of 25,034 shares, compared to its average volume of 163,078. The business has a fifty day simple moving average of $5.65 and a two-hundred day simple moving average of $6.29. The firm has a market cap of $322.59 million, a PE ratio of 47.36 and a beta of 0.93. biote has a 12-month low of $3.65 and a 12-month high of $8.44.

biote (NASDAQ:BTMD) last announced its earnings results 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. biote had a net margin of 3.67% and a negative return on equity of 20.92%. The firm had revenue of $49.17 million for the quarter, compared to analyst estimates of $50.40 million. As a group, research analysts anticipate that biote will post 0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in biote in the second quarter worth $42,000. The Manufacturers Life Insurance Company bought a new stake in shares of biote during the 2nd quarter valued at $84,000. Bailard Inc. purchased a new stake in shares of biote in the 2nd quarter worth about $146,000. Rhumbline Advisers increased its stake in shares of biote by 104.2% in the 2nd quarter. Rhumbline Advisers now owns 28,225 shares of the company’s stock worth $211,000 after acquiring an additional 14,404 shares in the last quarter. Finally, WINTON GROUP Ltd lifted its position in biote by 7.0% during the 2nd quarter. WINTON GROUP Ltd now owns 47,725 shares of the company’s stock valued at $357,000 after acquiring an additional 3,124 shares during the period. Institutional investors own 21.68% of the company’s stock.

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.