Short Interest in biote Corp. (NASDAQ:BTMD) Declines By 7.3%

biote Corp. (NASDAQ:BTMD - Get Free Report) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 881,500 shares, a decrease of 7.3% from the September 30th total of 951,100 shares. Based on an average daily trading volume, of 174,400 shares, the days-to-cover ratio is currently 5.1 days. Approximately 3.0% of the company's shares are sold short.

Institutional Trading of biote

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of biote in the second quarter valued at about $42,000. The Manufacturers Life Insurance Company acquired a new stake in shares of biote during the second quarter valued at about $84,000. Bailard Inc. acquired a new position in biote during the second quarter worth $146,000. Rhumbline Advisers boosted its holdings in biote by 104.2% during the 2nd quarter. Rhumbline Advisers now owns 28,225 shares of the company's stock valued at $211,000 after acquiring an additional 14,404 shares during the period. Finally, WINTON GROUP Ltd lifted its holdings in biote by 7.0% during the 2nd quarter. WINTON GROUP Ltd now owns 47,725 shares of the company's stock worth $357,000 after buying an additional 3,124 shares in the last quarter. Institutional investors and hedge funds own 21.68% of the company's stock.

biote Price Performance

Shares of NASDAQ:BTMD traded down $0.11 during trading hours on Wednesday, hitting $5.12. The company's stock had a trading volume of 45,979 shares, compared to its average volume of 163,178. The firm's fifty day moving average price is $5.63 and its 200 day moving average price is $6.28. The company has a market capitalization of $317.62 million, a price-to-earnings ratio of 46.55 and a beta of 0.93. biote has a 52 week low of $3.65 and a 52 week high of $8.44.

biote (NASDAQ:BTMD - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.05. The firm had revenue of $49.17 million during 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%. On average, equities research analysts predict that biote will post 0.52 earnings per share for the current fiscal 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.