biote Corp. (NASDAQ:BTMD) Short Interest Down 57.0% in June

biote Corp. (NASDAQ:BTMD) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 553,643 shares, a decrease of 57.0% from the June 15th total of 1,287,328 shares. Based on an average trading volume of 624,792 shares, the short-interest ratio is presently 0.9 days. Approximately 2.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings upgraded biote from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Truist Financial raised biote to a “strong-buy” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2.75.

Hedge Funds Weigh In On biote

Several institutional investors and hedge funds have recently modified their holdings of BTMD. Cubist Systematic Strategies LLC acquired a new stake in biote during the first quarter worth approximately $76,000. AQR Capital Management LLC acquired a new stake in shares of biote during the first quarter worth $43,000. Geode Capital Management LLC grew its position in shares of biote by 7.2% in the second quarter. Geode Capital Management LLC now owns 616,697 shares of the company’s stock valued at $2,480,000 after purchasing an additional 41,333 shares during the period. XTX Topco Ltd acquired a new position in biote in the second quarter valued at $68,000. Finally, First Trust Advisors LP increased its stake in biote by 5.3% in the second quarter. First Trust Advisors LP now owns 73,669 shares of the company’s stock valued at $296,000 after purchasing an additional 3,675 shares during the last quarter. Hedge funds and other institutional investors own 21.68% of the company’s stock.

biote Price Performance

biote stock traded up $0.10 during mid-day trading on Thursday, hitting $2.27. 13,184 shares of the company were exchanged, compared to its average volume of 252,576. The business’s 50 day simple moving average is $2.14 and its two-hundred day simple moving average is $2.07. The company has a market capitalization of $85.27 million, a P/E ratio of 5.16 and a beta of 1.66. biote has a 12-month low of $1.27 and a 12-month high of $4.75.

biote (NASDAQ:BTMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). biote had a net margin of 8.29% and a negative return on equity of 25.72%. The company had revenue of $44.94 million during the quarter, compared to analysts’ expectations of $46.02 million. Equities research analysts predict that biote will post 0.36 earnings per share 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.