Short Interest in biote Corp. (NASDAQ:BTMD) Increases By 8.0%

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

Analysts Set New Price Targets

Separately, Craig Hallum assumed coverage on biote in a report on Monday, December 16th. They issued a “buy” rating and a $12.00 target price on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Thompson Davis & CO. Inc. purchased a new position in biote in the fourth quarter valued at about $77,000. Rhumbline Advisers lifted its position in shares of biote by 11.6% in the fourth quarter. Rhumbline Advisers now owns 37,688 shares of the company’s stock worth $233,000 after buying an additional 3,920 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of biote in the fourth quarter worth about $76,000. Kanen Wealth Management LLC acquired a new stake in shares of biote in the fourth quarter worth about $1,791,000. Finally, Barclays PLC lifted its position in shares of biote by 52.3% in the third quarter. Barclays PLC now owns 77,196 shares of the company’s stock worth $432,000 after buying an additional 26,510 shares during the last quarter. Hedge funds and other institutional investors own 21.68% of the company’s stock.

biote Trading Up 3.9 %

Shares of BTMD stock opened at $5.29 on Tuesday. 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. The company has a market capitalization of $287.46 million, a price-to-earnings ratio of 20.35 and a beta of 1.04.

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.