biote Corp. (NASDAQ:BTMD) Sees Large Increase in Short Interest

biote Corp. (NASDAQ:BTMD) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 808,100 shares, an increase of 8.0% from the December 31st total of 748,200 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average trading volume of 138,100 shares, the short-interest ratio is presently 5.9 days.

Wall Street Analyst Weigh In

Separately, Craig Hallum began coverage on shares of biote in a report on Monday, December 16th. They issued a “buy” rating and a $12.00 target price for the company.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in biote by 1,016.6% during the second quarter. Dimensional Fund Advisors LP now owns 660,069 shares of the company’s stock valued at $4,931,000 after purchasing an additional 600,956 shares during the period. Renaissance Technologies LLC lifted its stake in shares of biote by 251.8% during the 2nd quarter. Renaissance Technologies LLC now owns 193,077 shares of the company’s stock worth $1,442,000 after acquiring an additional 138,200 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of biote during the 2nd quarter worth approximately $84,000. Sanders Morris Harris LLC boosted its holdings in biote by 131.2% during the 3rd quarter. Sanders Morris Harris LLC now owns 180,965 shares of the company’s stock valued at $1,010,000 after acquiring an additional 102,706 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in biote in the third quarter worth $106,000. Institutional investors own 21.68% of the company’s stock.

biote Trading Up 3.9 %

Shares of BTMD stock traded up $0.20 on Monday, reaching $5.29. The company’s stock had a trading volume of 189,903 shares, compared to its average volume of 114,233. The company has a market capitalization of $287.46 million, a price-to-earnings ratio of 20.35 and a beta of 1.04. The stock’s fifty day simple moving average is $6.08 and its 200-day simple moving average is $6.03. biote has a 1 year low of $3.90 and a 1 year high of $8.44.

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.