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

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

Institutional Investors Weigh In On biote

A number of hedge funds and other institutional investors have recently bought and sold shares of BTMD. Bandera Partners LLC boosted its stake in shares of biote by 7.5% during the fourth quarter. Bandera Partners LLC now owns 1,832,732 shares of the company’s stock valued at $9,054,000 after purchasing an additional 127,410 shares in the last quarter. Kent Lake Capital LLC boosted its position in 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 during the period. SW Investment Management LLC grew its holdings 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 last quarter. Bailard Inc. acquired a new position in biote in the 4th quarter valued at approximately $96,000. Finally, SG Americas Securities LLC bought a new position in shares of biote during the fourth quarter valued at $53,000. Institutional investors own 21.68% of the company’s stock.

biote Stock Down 3.3 %

NASDAQ:BTMD opened at $7.40 on Thursday. The firm has a market capitalization of $459.10 million, a PE ratio of 67.27 and a beta of 0.98. The stock’s 50-day simple moving average is $6.40 and its 200 day simple moving average is $5.59. biote has a twelve month low of $3.65 and a twelve month high of $8.22.

biote (NASDAQ:BTMD) last issued its earnings results on Tuesday, May 7th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.18. The firm had revenue of $46.80 million for the quarter, compared to analyst estimates of $47.09 million. biote had a net margin of 4.30% and a negative return on equity of 36.67%. On average, analysts anticipate that biote will post 0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Roth Mkm restated a “buy” rating and issued a $9.00 target price (up from $8.00) on shares of biote in a research report on Wednesday, March 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $8.11.

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.