biote (NASDAQ:BTMD) Trading Up 1.1% – Still a Buy?

biote Corp. (NASDAQ:BTMD) shares traded up 1.1% during trading on Friday . The stock traded as high as $2.80 and last traded at $2.78. 205,213 shares traded hands during mid-day trading, an increase of 87% from the average session volume of 109,696 shares. The stock had previously closed at $2.75.

Analysts Set New Price Targets

BTMD has been the topic of a number of recent analyst reports. Wall Street Zen lowered biote from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of biote in a research report on Monday. Finally, B. Riley reaffirmed a “neutral” rating on shares of biote in a report on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.00.

biote Trading Up 1.1%

The business has a fifty day simple moving average of $2.71 and a two-hundred day simple moving average of $3.29. The company has a market cap of $126.93 million, a PE ratio of 3.52 and a beta of 1.15.

biote (NASDAQ:BTMD) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.17. The firm had revenue of $47.96 million for the quarter, compared to analyst estimates of $47.76 million. biote had a net margin of 14.72% and a negative return on equity of 21.86%. Equities analysts expect that biote Corp. will post 0.75 EPS for the current year.

Institutional Investors Weigh In On biote

Several hedge funds and other institutional investors have recently made changes to their positions in BTMD. Fisher Asset Management LLC acquired a new position in biote during the third quarter worth $30,000. CWM LLC raised its holdings in shares of biote by 952.7% during the 2nd quarter. CWM LLC now owns 8,674 shares of the company’s stock worth $35,000 after acquiring an additional 7,850 shares during the period. Quadrature Capital Ltd acquired a new position in shares of biote during the 2nd quarter valued at about $41,000. Hsbc Holdings PLC acquired a new position in shares of biote during the 1st quarter valued at about $43,000. Finally, AQR Capital Management LLC purchased a new stake in shares of biote in the first quarter valued at about $43,000. Institutional investors and hedge funds 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.