Short Interest in biote Corp. (NASDAQ:BTMD) Increases By 111.8%

biote Corp. (NASDAQ:BTMD) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 1,395,764 shares, a growth of 111.8% from the August 15th total of 658,978 shares. Currently, 5.7% of the company’s stock are sold short. Based on an average daily trading volume, of 408,776 shares, the short-interest ratio is currently 3.4 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on BTMD. B. Riley Financial decreased their price objective on biote from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Monday, August 10th. Weiss Ratings lowered shares of biote from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 13th. TD Cowen dropped their price target on biote from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Truist Financial raised shares of biote to a “strong-buy” rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, biote currently has a consensus rating of “Moderate Buy” and a consensus price target of $2.50.

Insider Activity

In related news, Chairman Marc D. Beer acquired 115,950 shares of the stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $1.53 per share, with a total value of $177,403.50. Following the completion of the transaction, the chairman directly owned 223,744 shares of the company’s stock, valued at approximately $342,328.32. The trade was a 107.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 32.40% of the stock is owned by corporate insiders.

Institutional Trading of biote

Hedge funds and other institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC bought a new stake in biote during the 2nd quarter worth approximately $37,000. Abel Hall LLC grew its holdings in biote by 60.3% during the 1st quarter. Abel Hall LLC now owns 27,921 shares of the company’s stock worth $38,000 after acquiring an additional 10,507 shares during the period. Lazard Asset Management LLC increased its holdings in biote by 319.3% in the first quarter. Lazard Asset Management LLC now owns 48,943 shares of the company’s stock worth $66,000 after purchasing an additional 37,270 shares in the last quarter. Rice Hall James & Associates LLC increased its stake 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 valued at $338,000 after acquiring an additional 9,190 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in biote by 30.6% in the first quarter. Renaissance Technologies LLC now owns 265,916 shares of the company’s stock valued at $359,000 after purchasing an additional 62,322 shares in the last quarter. 21.68% of the stock is currently owned by institutional investors.

biote Stock Performance

Shares of biote stock traded down $0.01 on Tuesday, reaching $1.39. 271,012 shares of the stock were exchanged, compared to its average volume of 259,238. The firm’s 50 day moving average is $1.85 and its 200-day moving average is $1.92. The firm has a market cap of $49.94 million, a PE ratio of 12.64 and a beta of 1.60. biote has a one year low of $1.27 and a one year high of $3.52.

biote (NASDAQ:BTMD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.26). biote had a net margin of 3.19% and a negative return on equity of 22.33%. The business had revenue of $44.23 million during the quarter, compared to the consensus estimate of $46.12 million. On average, equities research analysts expect that biote will post 0.03 EPS for the current fiscal year.

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.