biote Corp. (NASDAQ:BTMD) Sees Large Decrease in Short Interest

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

biote Trading Up 8.1 %

BTMD stock opened at $4.95 on Tuesday. The company has a market cap of $268.98 million, a P/E ratio of 19.04 and a beta of 1.04. biote has a 52 week low of $4.45 and a 52 week high of $8.44. The company’s 50-day moving average price is $5.68 and its 200 day moving average price is $5.79.

Institutional Trading of biote

A number of institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD acquired a new position in biote during the fourth quarter worth about $67,000. Commonwealth Equity Services LLC acquired a new position in biote during the fourth quarter worth about $68,000. Intech Investment Management LLC acquired a new position in biote during the fourth quarter worth about $71,000. SG Americas Securities LLC acquired a new position in biote during the fourth quarter worth about $76,000. Finally, Thompson Davis & CO. Inc. acquired a new position in biote during the fourth quarter worth about $77,000. Hedge funds and other institutional investors own 21.68% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.