biote (NASDAQ:BTMD) Stock Price Up 8.6% – Should You Buy?

Shares of biote Corp. (NASDAQ:BTMD) were up 8.6% on Monday . The stock traded as high as $2.37 and last traded at $2.27. Approximately 240,500 shares were traded during trading, an increase of 48% from the average daily volume of 162,016 shares. The stock had previously closed at $2.09.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BTMD shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of biote in a research note on Monday, December 29th. B. Riley reaffirmed a “neutral” rating on shares of biote in a research note on Thursday, November 6th. Wall Street Zen lowered shares of biote from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Finally, Truist Financial set a $5.00 price target on shares of biote in a report on Wednesday, January 7th. 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, biote currently has an average rating of “Hold” and an average price target of $5.67.

biote Price Performance

The company has a market cap of $103.65 million, a PE ratio of 2.87 and a beta of 1.15. The business has a 50 day moving average of $2.52 and a 200 day moving average of $2.94.

biote (NASDAQ:BTMD) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.05 by $0.17. The business had revenue of $47.96 million during 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%. Sell-side analysts forecast that biote Corp. will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BTMD. First Trust Advisors LP increased 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 valued at $296,000 after purchasing an additional 3,675 shares in the last quarter. Man Group plc grew its stake in shares of biote by 9.9% in the 3rd quarter. Man Group plc now owns 70,383 shares of the company’s stock worth $211,000 after buying an additional 6,356 shares during the last quarter. CWM LLC increased its position in biote by 952.7% during the 2nd quarter. CWM LLC now owns 8,674 shares of the company’s stock valued at $35,000 after buying an additional 7,850 shares in the last quarter. Fisher Asset Management LLC purchased a new position in biote during the third quarter valued at $30,000. Finally, Quadrature Capital Ltd purchased a new position in biote during the second quarter valued at $41,000. Hedge funds and other institutional investors 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.