Short Interest in biote Corp. (NASDAQ:BTMD) Increases By 111.8%

biote Corp. (NASDAQ:BTMD) saw a significant increase in short interest in 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. Approximately 5.7% of the shares of the stock are sold short. Based on an average daily volume of 408,776 shares, the days-to-cover ratio is currently 3.4 days.

Analyst Upgrades and Downgrades

BTMD has been the topic of several recent research reports. B. Riley Financial decreased their target price on shares of biote from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Monday, August 10th. TD Cowen dropped their price target on biote from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Weiss Ratings cut biote from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 13th. Finally, Truist Financial upgraded biote to a “strong-buy” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2.50.

Insider Transactions at biote

In other biote news, Chairman Marc D. Beer acquired 115,950 shares of the stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $1.53 per share, for a total transaction of $177,403.50. Following the completion of the transaction, the chairman directly owned 223,744 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 32.40% of the stock is currently owned by insiders.

Institutional Trading of biote

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTMD. Squarepoint Ops LLC bought a new position in shares of biote during the second quarter valued at approximately $37,000. Renaissance Technologies LLC lifted its stake in shares of biote by 30.6% during the 1st quarter. Renaissance Technologies LLC now owns 265,916 shares of the company’s stock worth $359,000 after acquiring an additional 62,322 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in biote by 319.3% during the 1st quarter. Lazard Asset Management LLC now owns 48,943 shares of the company’s stock valued at $66,000 after acquiring an additional 37,270 shares during the period. Rice Hall James & Associates LLC grew its position in biote by 3.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 250,019 shares of the company’s stock valued at $338,000 after acquiring an additional 9,190 shares during the last quarter. Finally, Abel Hall LLC increased its stake in biote by 60.3% in 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 period. 21.68% of the stock is owned by hedge funds and other institutional investors.

biote Stock Down 0.7%

NASDAQ BTMD opened at $1.39 on Wednesday. biote has a 52 week low of $1.27 and a 52 week high of $3.52. The firm has a market capitalization of $49.94 million, a price-to-earnings ratio of 12.64 and a beta of 1.60. The company has a fifty day moving average of $1.84 and a two-hundred day moving average of $1.91.

biote (NASDAQ:BTMD) last announced its earnings results on Wednesday, August 5th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.26). The firm 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%. Equities research analysts anticipate that biote will post 0.03 EPS for the current year.

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.