biote (NASDAQ:BTMD) Stock Price Up 4.2% – Should You Buy?

biote Corp. (NASDAQ:BTMD)’s share price was up 4.2% during mid-day trading on Wednesday . The company traded as high as $2.02 and last traded at $2.00. Approximately 220,480 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 212,696 shares. The stock had previously closed at $1.92.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BTMD shares. TD Cowen cut their price target on shares of biote from $3.00 to $2.50 and set a “buy” rating on the stock in a report on Thursday, March 12th. Truist Financial cut their price target on shares of biote from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. B. Riley Financial cut their price target on shares of biote from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Weiss Ratings lowered shares of biote from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 13th. Finally, National Bank Financial set a $2.50 price target on shares of biote in a report on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.75.

biote Trading Up 4.2%

The business’s fifty day simple moving average is $1.86 and its 200-day simple moving average is $2.18. The firm has a market cap of $75.16 million, a P/E ratio of 4.55 and a beta of 1.71.

biote (NASDAQ:BTMD) last announced its earnings results on Wednesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $44.94 million for the quarter, compared to the consensus estimate of $46.02 million. biote had a net margin of 8.29% and a negative return on equity of 25.72%. Analysts anticipate that biote Corp. will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On biote

Large investors have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new stake in shares of biote during the 4th quarter valued at about $38,000. Millennium Management LLC bought a new stake in shares of biote during the 4th quarter valued at about $40,000. Abel Hall LLC bought a new stake in shares of biote during the 4th quarter valued at about $45,000. Marshall Wace LLP bought a new stake in shares of biote during the 4th quarter valued at about $40,000. Finally, LPL Financial LLC bought a new stake in shares of biote during the 4th quarter valued at about $32,000. Institutional investors own 21.68% of the company’s stock.

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.