biote (NASDAQ:BTMD) Shares Up 0.4% – Time to Buy?

biote Corp. (NASDAQ:BTMD)’s share price traded up 0.4% during trading on Wednesday . The company traded as high as $2.28 and last traded at $2.26. 142,208 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 403,010 shares. The stock had previously closed at $2.25.

Analyst Upgrades and Downgrades

BTMD has been the topic of a number of research analyst reports. Truist Financial raised biote to a “strong-buy” rating in a report on Monday, June 15th. TD Cowen reduced their price objective on biote from $3.00 to $2.50 and set a “buy” rating for the company in a report on Thursday, March 12th. B. Riley Financial decreased their target price on biote from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. National Bank Financial set a $2.50 target price on shares of biote in a research note on Thursday, March 12th. Finally, Weiss Ratings raised shares of biote from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2.75.

biote Stock Performance

The firm has a fifty day moving average price of $2.14 and a two-hundred day moving average price of $2.09. The stock has a market capitalization of $87.56 million, a P/E ratio of 5.30 and a beta of 1.66.

biote (NASDAQ:BTMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $44.94 million during the quarter, compared to the consensus estimate of $46.02 million. biote had a negative return on equity of 25.72% and a net margin of 8.29%. On average, research analysts anticipate that biote Corp. will post 0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On biote

Several institutional investors have recently made changes to their positions in the business. Millennium Management LLC purchased a new stake in shares of biote in the 4th quarter worth $40,000. Abel Hall LLC purchased a new position in biote during the fourth quarter valued at $45,000. Marshall Wace LLP purchased a new position in biote during the fourth quarter valued at $40,000. Deutsche Bank AG grew its holdings in biote by 46,220.9% during the fourth quarter. Deutsche Bank AG now owns 19,918 shares of the company’s stock valued at $52,000 after purchasing an additional 19,875 shares during the period. Finally, LPL Financial LLC bought a new stake in biote during the fourth quarter valued at about $32,000. Institutional investors own 21.68% of the company’s 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.