biote Corp. (NASDAQ:BTMD) Short Interest Update

biote Corp. (NASDAQ:BTMD) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 703,200 shares, a decline of 10.2% from the January 15th total of 782,700 shares. Based on an average trading volume of 152,800 shares, the short-interest ratio is presently 4.6 days. Approximately 2.3% of the company’s stock are sold short.

biote Price Performance

biote stock remained flat at $4.58 during mid-day trading on Monday. The company’s stock had a trading volume of 144,581 shares, compared to its average volume of 128,363. The stock has a market cap of $248.86 million, a price-to-earnings ratio of 17.62 and a beta of 1.04. biote has a 12-month low of $4.45 and a 12-month high of $8.44. The company has a fifty day simple moving average of $5.73 and a 200-day simple moving average of $5.81.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On biote

Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new position in biote during the 2nd quarter valued at about $84,000. Victory Capital Management Inc. purchased a new position in shares of biote during the third quarter valued at approximately $106,000. MetLife Investment Management LLC grew its holdings in biote by 129.1% during the third 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 in the last quarter. Wasatch Advisors LP raised its position in biote by 8.4% in the 3rd quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company’s stock valued at $7,772,000 after buying an additional 107,792 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in biote by 24.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 272,377 shares of the company’s stock valued at $1,520,000 after buying an additional 54,302 shares during the last quarter. 21.68% of the stock is currently owned by institutional investors.

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.