biote Corp. (NASDAQ:BTMD) Sees Significant Increase in Short Interest

biote Corp. (NASDAQ:BTMD) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 878,200 shares, a growth of 16.4% from the March 15th total of 754,400 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average trading volume of 117,500 shares, the short-interest ratio is currently 7.5 days.

Analyst Ratings Changes

Several analysts have commented on BTMD shares. B. Riley started coverage on shares of biote in a research note on Tuesday, February 20th. They issued a “buy” rating and a $9.00 target price for the company. Roth Mkm reaffirmed a “buy” rating and issued a $9.00 target price (up from $8.00) on shares of biote in a research note on Wednesday, March 13th. Truist Financial lowered their target price on shares of biote from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Finally, Jefferies Financial Group started coverage on shares of biote in a report on Thursday, February 1st. They issued a “buy” rating and a $6.55 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, biote currently has a consensus rating of “Buy” and an average target price of $8.11.

biote Trading Down 3.1 %

Shares of BTMD traded down $0.18 during mid-day trading on Tuesday, reaching $5.71. The company had a trading volume of 61,577 shares, compared to its average volume of 112,428. The stock has a market cap of $425.57 million, a price-to-earnings ratio of -26.77 and a beta of 0.87. The firm has a fifty day simple moving average of $5.58 and a 200-day simple moving average of $5.14. biote has a fifty-two week low of $3.65 and a fifty-two week high of $8.22.

biote (NASDAQ:BTMD) last posted its earnings results on Tuesday, March 12th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.06. The business had revenue of $45.70 million for the quarter, compared to analyst estimates of $45.50 million. biote had a net margin of 1.79% and a negative return on equity of 45.10%. As a group, equities analysts predict that biote will post 0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On biote

Several hedge funds and other institutional investors have recently made changes to their positions in BTMD. SW Investment Management LLC acquired a new position in biote in the 3rd quarter worth $3,340,000. Wasatch Advisors LP lifted its holdings in biote by 156.4% in the 1st quarter. Wasatch Advisors LP now owns 1,057,358 shares of the company’s stock worth $6,545,000 after buying an additional 644,906 shares in the last quarter. BlackRock Inc. acquired a new position in biote in the 2nd quarter worth $4,030,000. Vanguard Group Inc. lifted its holdings in biote by 38.6% in the 4th quarter. Vanguard Group Inc. now owns 1,419,529 shares of the company’s stock worth $7,012,000 after buying an additional 394,991 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in biote by 355.8% in the 2nd quarter. Geode Capital Management LLC now owns 307,051 shares of the company’s stock worth $2,076,000 after buying an additional 239,692 shares in the last quarter. Institutional investors and hedge funds own 21.68% of the company’s stock.

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.