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

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

Analyst Ratings Changes

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

biote Stock Up 0.4%

The company has a market cap of $84.93 million, a P/E ratio of 5.14 and a beta of 1.66. The business’s 50 day moving average is $2.13 and its 200 day moving average is $2.09.

biote (NASDAQ:BTMD) last announced its earnings results on Wednesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, equities research analysts forecast that biote Corp. will post 0.36 EPS for the current year.

Institutional Investors Weigh In On biote

Several institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in biote in the first quarter worth $76,000. AQR Capital Management LLC purchased a new stake in biote in the first quarter valued at about $43,000. Geode Capital Management LLC boosted its holdings in biote by 7.2% in the second quarter. Geode Capital Management LLC now owns 616,697 shares of the company’s stock worth $2,480,000 after acquiring an additional 41,333 shares in the last quarter. XTX Topco Ltd acquired a new stake in biote in the second quarter worth about $68,000. Finally, First Trust Advisors LP grew its stake in shares of biote by 5.3% during the second quarter. First Trust Advisors LP now owns 73,669 shares of the company’s stock worth $296,000 after acquiring an additional 3,675 shares during the last quarter. 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.