biote (NASDAQ:BTMD) Rating Lowered to Hold at Wall Street Zen

biote (NASDAQ:BTMD) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

A number of other equities research analysts have also recently commented on the company. B. Riley cut biote from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $8.00 to $4.00 in a research note on Thursday, August 7th. Weiss Ratings upgraded biote from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, biote presently has a consensus rating of “Hold” and an average price target of $6.00.

biote Price Performance

NASDAQ BTMD opened at $2.83 on Friday. The stock has a market capitalization of $139.91 million, a price-to-earnings ratio of 3.14 and a beta of 1.16. biote has a one year low of $2.65 and a one year high of $6.98. The business’s fifty day moving average is $3.10 and its 200-day moving average is $3.53.

biote (NASDAQ:BTMD) last released its earnings results on Wednesday, August 6th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $48.86 million for the quarter, compared to analysts’ expectations of $49.52 million. biote had a negative return on equity of 21.00% and a net margin of 15.73%. Research analysts expect that biote will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On biote

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC increased its position in shares of biote by 15.0% during the first quarter. Acadian Asset Management LLC now owns 700,871 shares of the company’s stock valued at $2,330,000 after buying an additional 91,672 shares during the period. Strs Ohio bought a new stake in shares of biote during the first quarter valued at about $312,000. Nuveen LLC bought a new stake in shares of biote during the first quarter valued at about $872,000. Trexquant Investment LP increased its position in shares of biote by 18.5% during the first quarter. Trexquant Investment LP now owns 120,544 shares of the company’s stock valued at $401,000 after buying an additional 18,787 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of biote during the first quarter valued at about $62,000. 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.