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

biote Corp. (NASDAQ:BTMD) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totalling 1,480,000 shares, an increase of 38.3% from the June 30th total of 1,070,000 shares. Currently, 5.3% of the company’s shares are short sold. Based on an average trading volume of 218,600 shares, the short-interest ratio is currently 6.8 days.

biote Price Performance

Shares of BTMD traded up $0.12 during mid-day trading on Friday, reaching $7.99. The company’s stock had a trading volume of 185,784 shares, compared to its average volume of 291,626. biote has a 12-month low of $3.65 and a 12-month high of $8.44. The stock has a market cap of $495.70 million, a PE ratio of 72.64 and a beta of 0.98. The company’s 50 day moving average is $7.10 and its 200 day moving average is $5.95.

biote (NASDAQ:BTMD) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.18. The business had revenue of $46.80 million for 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 anticipate that biote will post 0.56 EPS for the current fiscal year.

Insider Buying and Selling

In other biote news, CFO Robert Charles Peterson sold 11,376 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $7.57, for a total value of $86,116.32. Following the sale, the chief financial officer now owns 32,874 shares of the company’s stock, valued at approximately $248,856.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 13.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bailard Inc. purchased a new position in biote during the 4th quarter worth approximately $96,000. Bandera Partners LLC lifted its position in biote by 7.5% during the 4th quarter. Bandera Partners LLC now owns 1,832,732 shares of the company’s stock worth $9,054,000 after acquiring an additional 127,410 shares during the period. SW Investment Management LLC lifted 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 worth $3,334,000 after acquiring an additional 22,651 shares during the period. SG Americas Securities LLC acquired a new stake in biote during the 4th quarter worth approximately $53,000. Finally, Bank of New York Mellon Corp lifted its position in 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 acquiring an additional 34,999 shares during the period. Hedge funds and other institutional investors own 21.68% of the company’s stock.

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.