biote Corp. (NASDAQ:BTMD) Short Interest Update

biote Corp. (NASDAQ:BTMD) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 686,700 shares, a drop of 16.8% from the November 15th total of 825,500 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average daily volume of 159,000 shares, the short-interest ratio is presently 4.3 days.

Institutional Investors Weigh In On biote

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in biote by 59.0% during the second quarter. Bank of New York Mellon Corp now owns 94,318 shares of the company’s stock worth $705,000 after acquiring an additional 34,999 shares during the period. Bailard Inc. acquired a new stake in biote during the second quarter worth about $146,000. Allspring Global Investments Holdings LLC bought a new position in biote in the 2nd quarter valued at about $42,000. Skylands Capital LLC lifted its holdings in shares of biote by 36.2% during the 2nd quarter. Skylands Capital LLC now owns 160,845 shares of the company’s stock worth $1,202,000 after acquiring an additional 42,729 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of biote by 104.2% during the 2nd quarter. Rhumbline Advisers now owns 28,225 shares of the company’s stock worth $211,000 after acquiring an additional 14,404 shares in the last quarter. Institutional investors own 21.68% of the company’s stock.

biote Price Performance

BTMD traded down $0.17 during trading on Friday, hitting $6.37. The stock had a trading volume of 58,711 shares, compared to its average volume of 163,776. The company has a 50 day moving average price of $5.82 and a 200-day moving average price of $6.35. biote has a one year low of $3.65 and a one year high of $8.44. The firm has a market cap of $346.13 million, a price-to-earnings ratio of 24.50 and a beta of 1.07.

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.