biote Corp. (NASDAQ:BTMD) Short Interest Update

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

biote Price Performance

Shares of NASDAQ:BTMD traded down $0.02 during trading hours 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 market capitalization of $276.51 million, a P/E ratio of 30.12 and a beta of 0.93. The business has a fifty day moving average price of $5.63 and a 200-day moving average price of $6.28. biote has a 1 year low of $3.65 and a 1 year high of $8.44.

biote (NASDAQ:BTMD) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.09 by $0.05. biote had a negative return on equity of 20.92% and a net margin of 3.67%. The company had revenue of $49.17 million for the quarter, compared to the consensus estimate of $50.40 million. As a group, equities analysts predict that biote will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in shares of biote by 251.8% during the second quarter. Renaissance Technologies LLC now owns 193,077 shares of the company’s stock worth $1,442,000 after acquiring an additional 138,200 shares during the period. Bailard Inc. bought a new stake in biote during the 2nd quarter valued at $146,000. The Manufacturers Life Insurance Company purchased a new stake in shares of biote in the 2nd quarter worth $84,000. Bank of New York Mellon Corp grew its position in shares of biote by 59.0% during 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of biote during the second quarter valued at $42,000. Hedge funds and other institutional investors 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.