biote (NASDAQ:BTMD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of biote (NASDAQ:BTMD) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

BTMD has been the topic of a number of other research reports. B. Riley downgraded biote from a “buy” rating to a “neutral” rating and cut their price target for the company from $8.00 to $4.00 in a research note on Thursday, August 7th. Weiss Ratings raised biote from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $6.00.

biote Price Performance

Shares of NASDAQ:BTMD opened at $2.90 on Friday. biote has a one year low of $2.71 and a one year high of $6.98. The company has a 50 day moving average of $3.13 and a 200-day moving average of $3.55. The stock has a market cap of $143.38 million, a price-to-earnings ratio of 3.22 and a beta of 1.16.

biote (NASDAQ:BTMD) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.10 earnings per share 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 for the quarter, compared to analyst estimates of $49.52 million. Equities research analysts anticipate that biote will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of biote during the first quarter worth about $62,000. Nuveen LLC acquired a new position in shares of biote in the 1st quarter valued at approximately $872,000. Hsbc Holdings PLC bought a new stake in biote during the 1st quarter worth approximately $43,000. Trexquant Investment LP raised its holdings in biote by 18.5% during the 1st quarter. Trexquant Investment LP now owns 120,544 shares of the company’s stock worth $401,000 after buying an additional 18,787 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in biote during the 1st quarter worth approximately $76,000. 21.68% of the stock is owned by institutional investors and hedge funds.

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.