biote (NASDAQ:BTMD) Stock Price Up 3.2% – Still a Buy?

biote Corp. (NASDAQ:BTMD) rose 3.2% on Monday . The stock traded as high as $3.00 and last traded at $2.93. Approximately 140,027 shares traded hands during mid-day trading, an increase of 40% from the average daily volume of 99,962 shares. The stock had previously closed at $2.84.

Analysts Set New Price Targets

BTMD has been the topic of several recent analyst reports. B. Riley downgraded shares of biote from a “buy” rating to a “neutral” rating and cut their price objective for the company from $8.00 to $4.00 in a report on Thursday, August 7th. Wall Street Zen lowered shares of biote from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings cut shares of biote from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.00.

biote Stock Performance

The company’s fifty day moving average is $3.13 and its two-hundred day moving average is $3.56. The company has a market cap of $144.86 million, a price-to-earnings ratio of 3.26 and a beta of 1.16.

biote (NASDAQ:BTMD) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. biote had a net margin of 15.73% and a negative return on equity of 21.00%. The business had revenue of $48.86 million during the quarter, compared to analysts’ expectations of $49.52 million. On average, sell-side analysts anticipate that biote Corp. will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BTMD. CWM LLC lifted its holdings in biote by 952.7% in the second quarter. CWM LLC now owns 8,674 shares of the company’s stock valued at $35,000 after acquiring an additional 7,850 shares during the period. Quadrature Capital Ltd purchased a new position in shares of biote during the 2nd quarter valued at approximately $41,000. Hsbc Holdings PLC acquired a new position in shares of biote in the 1st quarter valued at $43,000. AQR Capital Management LLC purchased a new stake in biote during the first quarter worth $43,000. Finally, Jane Street Group LLC purchased a new stake in biote during the second quarter worth $53,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

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.