biote Corp. (NASDAQ:BTMD) Short Interest Update

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on BTMD. Weiss Ratings raised biote from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Truist Financial raised shares of biote to a “strong-buy” rating in a research note on Monday, June 15th. One 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’s stock. According to MarketBeat.com, biote presently has an average rating of “Moderate Buy” and an average price target of $2.75.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BTMD. Lazard Asset Management LLC increased its position 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 buying an additional 37,270 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in biote by 3.8% during the first quarter. Rice Hall James & Associates LLC now owns 250,019 shares of the company’s stock valued at $338,000 after purchasing an additional 9,190 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of biote by 30.6% in the 1st quarter. Renaissance Technologies LLC now owns 265,916 shares of the company’s stock valued at $359,000 after acquiring an additional 62,322 shares during the last quarter. Abel Hall LLC boosted its stake in biote by 60.3% during the first quarter. Abel Hall LLC now owns 27,921 shares of the company’s stock worth $38,000 after buying an additional 10,507 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in biote in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 21.68% of the company’s stock.

biote Stock Performance

Shares of BTMD stock traded down $0.04 on Tuesday, hitting $2.29. The company’s stock had a trading volume of 59,943 shares, compared to its average volume of 253,311. biote has a fifty-two week low of $1.27 and a fifty-two week high of $4.75. The stock’s 50 day moving average is $2.14 and its 200-day moving average is $2.08. The company has a market capitalization of $85.87 million, a PE ratio of 5.19 and a beta of 1.66.

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

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.