Short Interest in biote Corp. (NASDAQ:BTMD) Declines By 9.4%

biote Corp. (NASDAQ:BTMD - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 1,160,000 shares, a decrease of 9.4% from the July 31st total of 1,280,000 shares. Based on an average daily volume of 255,200 shares, the short-interest ratio is presently 4.5 days. Approximately 3.9% of the company's shares are sold short.

Insider Activity

In other news, CFO Robert Charles Peterson sold 11,376 shares of the company's stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $7.57, for a total value of $86,116.32. Following the transaction, the chief financial officer now directly owns 32,874 shares of the company's stock, valued at $248,856.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 13.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Bandera Partners LLC boosted its holdings in shares of biote by 7.5% in the 4th quarter. Bandera Partners LLC now owns 1,832,732 shares of the company's stock valued at $9,054,000 after buying an additional 127,410 shares during the last quarter. SW Investment Management LLC lifted its holdings in shares of 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. Sanders Morris Harris LLC bought a new position in biote in the second quarter valued at about $585,000. Bank of New York Mellon Corp boosted its position in biote by 59.0% in the second quarter. Bank of New York Mellon Corp now owns 94,318 shares of the company's stock valued at $705,000 after buying an additional 34,999 shares in the last quarter. Finally, Bailard Inc. acquired a new position in shares of biote in the second quarter valued at approximately $146,000. Institutional investors and hedge funds own 21.68% of the company's stock.

biote Price Performance

Shares of NASDAQ BTMD traded up $0.03 during mid-day trading on Friday, hitting $6.28. The company had a trading volume of 110,113 shares, compared to its average volume of 215,479. biote has a 12 month low of $3.65 and a 12 month high of $8.44. The firm has a market cap of $340.50 million, a P/E ratio of 57.09 and a beta of 0.98. The business's 50-day simple moving average is $7.07 and its 200-day simple moving average is $6.34.

biote (NASDAQ:BTMD - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The company had revenue of $49.17 million for the quarter, compared to analysts' expectations of $50.40 million. biote had a negative return on equity of 20.92% and a net margin of 3.67%. As a group, sell-side analysts predict that biote will post 0.52 EPS for the current year.

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.

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