biote Corp. (NASDAQ:BTMD) Short Interest Up 16.4% in March

biote Corp. (NASDAQ:BTMD - Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 878,200 shares, an increase of 16.4% from the March 15th total of 754,400 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average daily trading volume, of 117,500 shares, the short-interest ratio is presently 7.5 days.

biote Stock Performance

Shares of NASDAQ BTMD traded up $0.03 during mid-day trading on Friday, reaching $6.02. The company had a trading volume of 54,465 shares, compared to its average volume of 138,943. biote has a twelve month low of $3.65 and a twelve month high of $8.22. The stock has a market capitalization of $448.68 million, a PE ratio of -27.36 and a beta of 0.87. The stock's 50 day moving average is $5.54 and its 200-day moving average is $5.14.

biote (NASDAQ:BTMD - Get Free Report) last issued its quarterly earnings data on Tuesday, March 12th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.06. The firm had revenue of $45.70 million during the quarter, compared to analysts' expectations of $45.50 million. biote had a net margin of 1.79% and a negative return on equity of 45.10%. On average, sell-side analysts anticipate that biote will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BTMD shares. Jefferies Financial Group started coverage on biote in a report on Thursday, February 1st. They set a "buy" rating and a $6.55 price target on the stock. Roth Mkm reissued a "buy" rating and set a $9.00 target price (up previously from $8.00) on shares of biote in a report on Wednesday, March 13th. Truist Financial dropped their target price on biote from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Thursday, January 18th. Finally, B. Riley initiated coverage on shares of biote in a research report on Tuesday, February 20th. They issued a "buy" rating and a $9.00 price target on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, biote currently has a consensus rating of "Buy" and a consensus target price of $8.11.

Institutional Investors Weigh In On biote

A number of large investors have recently bought and sold shares of BTMD. SW Investment Management LLC bought a new stake in biote in the third quarter worth $3,340,000. Wasatch Advisors LP boosted its holdings in biote by 156.4% during the first quarter. Wasatch Advisors LP now owns 1,057,358 shares of the company's stock valued at $6,545,000 after acquiring an additional 644,906 shares during the period. BlackRock Inc. bought a new stake in biote during the second quarter valued at about $4,030,000. Vanguard Group Inc. boosted its holdings in biote by 38.6% during the fourth quarter. Vanguard Group Inc. now owns 1,419,529 shares of the company's stock valued at $7,012,000 after acquiring an additional 394,991 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in biote by 355.8% during the second quarter. Geode Capital Management LLC now owns 307,051 shares of the company's stock valued at $2,076,000 after acquiring an additional 239,692 shares during the period. 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.