biote Corp. (NASDAQ:BTMD) Short Interest Update

biote Corp. (NASDAQ:BTMD) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 703,200 shares, a drop of 10.2% from the January 15th total of 782,700 shares. Based on an average daily volume of 152,800 shares, the days-to-cover ratio is currently 4.6 days. Currently, 2.3% of the shares of the company are short sold.

Institutional Investors Weigh In On biote

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP grew its holdings in biote by 8.4% during the third quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company’s stock valued at $7,772,000 after purchasing an additional 107,792 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of biote by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 681,524 shares of the company’s stock valued at $4,211,000 after acquiring an additional 3,065 shares during the period. State Street Corp increased its holdings in biote by 13.7% in the 3rd quarter. State Street Corp now owns 475,491 shares of the company’s stock worth $2,653,000 after acquiring an additional 57,290 shares in the last quarter. Kanen Wealth Management LLC bought a new stake in biote during the 4th quarter worth approximately $1,791,000. Finally, Northern Trust Corp lifted its holdings in biote by 9.9% during the fourth quarter. Northern Trust Corp now owns 288,336 shares of the company’s stock valued at $1,782,000 after purchasing an additional 25,873 shares in the last quarter. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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.

biote Stock Performance

BTMD stock remained flat at $4.58 during midday trading on Monday. 144,581 shares of the company’s stock were exchanged, compared to its average volume of 128,363. The stock’s 50-day moving average is $5.73 and its 200-day moving average is $5.81. The company has a market cap of $248.86 million, a PE ratio of 17.62 and a beta of 1.04. biote has a twelve month low of $4.45 and a twelve month high of $8.44.

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.