biote Corp. (NASDAQ:BTMD) Short Interest Down 6.7% in June

biote Corp. (NASDAQ:BTMD) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 1,110,000 shares, a decline of 6.7% from the May 31st total of 1,190,000 shares. Currently, 4.0% of the company’s shares are sold short. Based on an average daily trading volume, of 162,000 shares, the days-to-cover ratio is presently 6.9 days.

Institutional Investors Weigh In On biote

Several large investors have recently added to or reduced their stakes in the stock. Bailard Inc. purchased a new position in shares of biote during the fourth quarter worth approximately $96,000. Bandera Partners LLC grew its stake in biote by 7.5% in the fourth quarter. Bandera Partners LLC now owns 1,832,732 shares of the company’s stock worth $9,054,000 after purchasing an additional 127,410 shares in the last quarter. SW Investment Management LLC raised its position in biote by 3.5% during the 4th quarter. SW Investment Management LLC now owns 675,000 shares of the company’s stock valued at $3,334,000 after purchasing an additional 22,651 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of biote in the 4th quarter worth $53,000. Finally, Kent Lake Capital LLC grew its position in shares of biote by 0.8% during the 3rd quarter. Kent Lake Capital LLC now owns 1,284,297 shares of the company’s stock worth $6,576,000 after buying an additional 10,596 shares in the last quarter. 21.68% of the stock is owned by hedge funds and other institutional investors.

biote Stock Performance

Shares of BTMD stock opened at $7.40 on Thursday. The stock has a 50 day moving average price of $6.40 and a 200 day moving average price of $5.59. The firm has a market capitalization of $459.10 million, a P/E ratio of 67.27 and a beta of 0.98. biote has a 52-week low of $3.65 and a 52-week high of $8.22.

biote (NASDAQ:BTMD) last released its earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.18. The business had revenue of $46.80 million during the quarter, compared to the consensus estimate of $47.09 million. biote had a negative return on equity of 36.67% and a net margin of 4.30%. As a group, sell-side analysts forecast that biote will post 0.56 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reiterated a “buy” rating and set a $9.00 price objective (up previously from $8.00) on shares of biote in a research report on Wednesday, March 13th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, biote currently has an average rating of “Buy” and an average price target of $8.11.

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.