biote Corp. (NASDAQ:BTMD) Short Interest Update

by · The Markets Daily

biote Corp. (NASDAQ:BTMD – Get Free Report) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 881,500 shares, a decline of 7.3% from the September 30th total of 951,100 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average daily volume of 174,400 shares, the days-to-cover ratio is presently 5.1 days.

biote Stock Performance

Shares of NASDAQ BTMD traded down $0.02 during midday trading on Thursday, hitting $5.10. 99,184 shares of the company’s stock traded hands, compared to its average volume of 162,874. The firm has a fifty day moving average of $5.63 and a 200 day moving average of $6.28. biote has a 1 year low of $3.65 and a 1 year high of $8.44. The stock has a market capitalization of $276.51 million, a price-to-earnings ratio of 30.12 and a beta of 0.93.

biote (NASDAQ:BTMD – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $49.17 million during the quarter, compared to analysts’ expectations of $50.40 million. biote had a net margin of 3.67% and a negative return on equity of 20.92%. On average, equities analysts anticipate that biote will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On biote

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of biote by 1,016.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 660,069 shares of the company’s stock valued at $4,931,000 after buying an additional 600,956 shares in the last quarter. Renaissance Technologies LLC raised its stake in biote by 251.8% during the second quarter. Renaissance Technologies LLC now owns 193,077 shares of the company’s stock valued at $1,442,000 after purchasing an additional 138,200 shares in the last quarter. Sanders Morris Harris LLC lifted its position in biote by 131.2% during the third quarter. Sanders Morris Harris LLC now owns 180,965 shares of the company’s stock valued at $1,010,000 after purchasing an additional 102,706 shares during the last quarter. Skylands Capital LLC grew its stake in shares of biote by 36.2% in the 2nd quarter. Skylands Capital LLC now owns 160,845 shares of the company’s stock worth $1,202,000 after buying an additional 42,729 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings 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 buying an additional 34,999 shares during the last quarter. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

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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