Short Interest in biote Corp. (NASDAQ:BTMD) Expands By 9.0%

biote Corp. (NASDAQ:BTMD) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 748,200 shares, a growth of 9.0% from the November 30th total of 686,700 shares. Based on an average daily trading volume, of 141,900 shares, the short-interest ratio is presently 5.3 days. Approximately 2.5% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum started coverage on shares of biote in a report on Monday, December 16th. They set a “buy” rating and a $12.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, biote currently has a consensus rating of “Buy” and a consensus target price of $9.11.

biote Price Performance

NASDAQ BTMD traded up $0.27 during trading hours on Tuesday, hitting $6.18. The company’s stock had a trading volume of 162,063 shares, compared to its average volume of 162,621. biote has a 12 month low of $3.65 and a 12 month high of $8.44. The company’s 50 day simple moving average is $6.01 and its two-hundred day simple moving average is $6.31. The company has a market cap of $335.82 million, a P/E ratio of 23.77 and a beta of 1.07.

Institutional Trading of biote

Large investors have recently made changes to their positions in the stock. WINTON GROUP Ltd lifted its position in biote by 7.0% during the second quarter. WINTON GROUP Ltd now owns 47,725 shares of the company’s stock valued at $357,000 after purchasing an additional 3,124 shares during the period. Jane Street Group LLC boosted its stake in shares of biote by 24.7% in the 3rd quarter. Jane Street Group LLC now owns 16,873 shares of the company’s stock worth $94,000 after buying an additional 3,342 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of biote in the second quarter worth $42,000. MetLife Investment Management LLC grew its holdings in shares of biote by 129.1% in the third quarter. MetLife Investment Management LLC now owns 16,582 shares of the company’s stock worth $93,000 after acquiring an additional 9,343 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in biote during the second quarter valued at $84,000. 21.68% of the stock is currently owned by institutional investors.

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.