biote Corp. (NASDAQ:BTMD) Short Interest Down 8.5% in October

biote Corp. (NASDAQ:BTMD) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 806,900 shares, a decrease of 8.5% from the October 15th total of 881,500 shares. Based on an average daily volume of 155,700 shares, the short-interest ratio is currently 5.2 days. Approximately 2.7% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BTMD. Sanders Morris Harris LLC purchased a new stake in biote in the second quarter worth about $585,000. Bank of New York Mellon Corp boosted its position in shares of biote by 59.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 94,318 shares of the company’s stock worth $705,000 after purchasing an additional 34,999 shares in the last quarter. Bailard Inc. purchased a new stake in shares of biote in the 2nd quarter worth approximately $146,000. Allspring Global Investments Holdings LLC bought a new position in biote during the 2nd quarter valued at approximately $42,000. Finally, Skylands Capital LLC increased its position in biote by 36.2% during the 2nd quarter. Skylands Capital LLC now owns 160,845 shares of the company’s stock valued at $1,202,000 after buying an additional 42,729 shares in the last quarter. 21.68% of the stock is currently owned by institutional investors.

biote Trading Up 13.2 %

BTMD traded up $0.71 during trading on Monday, reaching $6.10. The stock had a trading volume of 294,717 shares, compared to its average volume of 165,581. The company has a market capitalization of $330.74 million, a price-to-earnings ratio of 23.08 and a beta of 0.94. The stock’s 50 day moving average is $5.52 and its two-hundred day moving average is $6.29. biote has a one year low of $3.65 and a one year high of $8.44.

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.