Short Interest in biote Corp. (NASDAQ:BTMD) Rises By 8.0%

biote Corp. (NASDAQ:BTMD) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 808,100 shares, a growth of 8.0% from the December 31st total of 748,200 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average daily volume of 138,100 shares, the short-interest ratio is presently 5.9 days.

biote Stock Up 3.9 %

Shares of NASDAQ BTMD traded up $0.20 during midday trading on Monday, hitting $5.29. The company had a trading volume of 189,903 shares, compared to its average volume of 114,233. biote has a twelve month low of $3.90 and a twelve month high of $8.44. The firm has a market capitalization of $287.46 million, a price-to-earnings ratio of 20.35 and a beta of 1.04. The business has a 50-day simple moving average of $6.08 and a two-hundred day simple moving average of $6.03.

Institutional Trading of biote

A number of hedge funds have recently bought and sold shares of BTMD. SG Americas Securities LLC purchased a new stake in shares of biote during the 4th quarter worth about $76,000. Thompson Davis & CO. Inc. bought a new stake in shares of biote in the 4th quarter worth about $77,000. The Manufacturers Life Insurance Company bought a new stake in shares of biote in the 2nd quarter valued at approximately $84,000. MetLife Investment Management LLC lifted its position in shares of biote by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 16,582 shares of the company’s stock worth $93,000 after buying an additional 9,343 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in biote by 24.7% in the third quarter. Jane Street Group LLC now owns 16,873 shares of the company’s stock valued at $94,000 after acquiring an additional 3,342 shares during the period. Institutional investors and hedge funds own 21.68% of the company’s stock.

Analyst Ratings Changes

Separately, Craig Hallum assumed coverage on shares of biote in a research note on Monday, December 16th. They issued a “buy” rating and a $12.00 price target on the 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.