biote Corp. (NASDAQ:BTMD) Sees Large Growth in Short Interest

biote Corp. (NASDAQ:BTMDGet Free Report) was the target of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 1,190,000 shares, an increase of 6.3% from the May 15th total of 1,120,000 shares. Based on an average trading volume of 134,800 shares, the days-to-cover ratio is presently 8.8 days. Currently, 4.2% of the shares of the company are sold short.

Institutional Investors Weigh In On biote

A number of hedge funds have recently made changes to their positions in BTMD. SG Americas Securities LLC bought a new position in biote in the 4th quarter valued at approximately $53,000. Bailard Inc. bought a new position in biote in the 4th quarter valued at approximately $96,000. Barclays PLC raised its holdings in biote by 768.1% in the 3rd quarter. Barclays PLC now owns 24,490 shares of the company’s stock valued at $126,000 after buying an additional 21,669 shares during the last quarter. WINTON GROUP Ltd bought a new position in biote in the 3rd quarter valued at approximately $158,000. Finally, Acadian Asset Management LLC bought a new position in biote in the 3rd quarter valued at approximately $712,000. 21.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reaffirmed a “buy” rating and set a $9.00 price target (up from $8.00) on shares of biote in a research report on Wednesday, March 13th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, biote presently has an average rating of “Buy” and a consensus price target of $8.11.

View Our Latest Stock Analysis on BTMD

biote Trading Down 1.5 %

BTMD opened at $6.55 on Thursday. The company’s 50 day moving average is $6.07 and its 200-day moving average is $5.45. biote has a 1-year low of $3.65 and a 1-year high of $8.22. The company has a market cap of $406.34 million, a P/E ratio of 59.55 and a beta of 0.95.

biote (NASDAQ:BTMDGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.18. biote had a net margin of 4.30% and a negative return on equity of 36.67%. The company had revenue of $46.80 million for the quarter, compared to the consensus estimate of $47.09 million. On average, equities analysts forecast that biote will post 0.55 EPS for the current year.

biote Company Profile

(Get Free Report)

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.

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