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

biote Corp. (NASDAQ:BTMD) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 1,395,764 shares, an increase of 111.8% from the August 15th total of 658,978 shares. Based on an average trading volume of 408,776 shares, the days-to-cover ratio is presently 3.4 days. Currently, 5.7% of the shares of the stock are short sold.

Insider Activity at biote

In related news, Chairman Marc D. Beer bought 115,950 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $1.53 per share, for a total transaction of $177,403.50. Following the transaction, the chairman owned 223,744 shares of the company’s stock, valued at approximately $342,328.32. This trade represents a 107.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On biote

Hedge funds have recently modified their holdings of the company. LPL Financial LLC acquired a new position in shares of biote in the fourth quarter valued at approximately $32,000. Squarepoint Ops LLC acquired a new position in biote in the 2nd quarter valued at $37,000. Quadrature Capital Ltd purchased a new position in shares of biote during the 4th quarter worth $38,000. Abel Hall LLC boosted its holdings in shares of biote by 60.3% during the first quarter. Abel Hall LLC now owns 27,921 shares of the company’s stock worth $38,000 after purchasing an additional 10,507 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of biote during the fourth quarter worth $40,000. 21.68% of the stock is owned by institutional investors and hedge funds.

biote Trading Up 1.4%

Shares of NASDAQ BTMD traded up $0.02 during trading on Monday, reaching $1.35. The company had a trading volume of 103,117 shares, compared to its average volume of 258,740. biote has a twelve month low of $1.27 and a twelve month high of $3.52. The stock has a market capitalization of $48.47 million, a PE ratio of 12.23 and a beta of 1.60. The stock has a 50-day moving average price of $1.87 and a two-hundred day moving average price of $1.92.

biote (NASDAQ:BTMD) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.26). The company had revenue of $44.23 million during the quarter, compared to analysts’ expectations of $46.12 million. biote had a net margin of 3.19% and a negative return on equity of 22.33%. On average, sell-side analysts predict that biote will post 0.03 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on BTMD shares. TD Cowen decreased their price objective on shares of biote from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Friday, August 7th. B. Riley Financial lowered their target price on biote from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Monday, August 10th. Truist Financial raised biote to a “strong-buy” rating in a research note on Monday, June 15th. Finally, Weiss Ratings lowered shares of biote from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2.50.

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.