biote (NASDAQ:BTMD) Stock Price Up 11.2% – Should You Buy?

biote Corp. (NASDAQ:BTMD)’s stock price was up 11.2% on Thursday . The company traded as high as $1.59 and last traded at $1.59. Approximately 379,298 shares were traded during mid-day trading, an increase of 13% from the average daily volume of 335,956 shares. The stock had previously closed at $1.43.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BTMD shares. Truist Financial set a $5.00 target price on shares of biote in a research report on Wednesday, January 7th. National Bank Financial set a $2.50 price target on biote in a research report on Thursday, March 12th. TD Cowen reduced their price objective on biote from $3.00 to $2.50 and set a “buy” rating for the company in a research note on Thursday, March 12th. B. Riley Financial decreased their price objective on biote from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of biote in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.00.

biote Trading Up 11.2%

The firm’s fifty day moving average price is $1.88 and its two-hundred day moving average price is $2.44. The stock has a market capitalization of $62.88 million, a PE ratio of 2.12 and a beta of 1.29.

biote (NASDAQ:BTMD) last released its quarterly earnings results on Wednesday, March 11th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. biote had a net margin of 14.07% and a negative return on equity of 23.41%. The company had revenue of $46.41 million for the quarter, compared to analyst estimates of $45.79 million. As a group, sell-side analysts anticipate that biote Corp. will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On biote

A number of institutional investors have recently modified their holdings of the business. Quadrature Capital Ltd acquired a new stake in shares of biote during the 4th quarter valued at about $38,000. Millennium Management LLC acquired a new position in biote in the 4th quarter worth about $40,000. Abel Hall LLC purchased a new position in biote during the fourth quarter worth approximately $45,000. Rothschild Wealth LLC purchased a new position in biote during the fourth quarter worth approximately $380,000. Finally, Rice Hall James & Associates LLC grew its holdings in biote by 6.1% in the fourth quarter. Rice Hall James & Associates LLC now owns 240,829 shares of the company’s stock valued at $626,000 after purchasing an additional 13,805 shares during the period. 21.68% of the stock is currently owned by institutional investors and hedge funds.

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.