biote (NASDAQ:BTMD) Stock Price Up 0.5% – Should You Buy?

biote Corp. (NASDAQ:BTMD)’s share price shot up 0.5% during mid-day trading on Tuesday . The company traded as high as $2.12 and last traded at $2.06. 136,709 shares traded hands during trading, a decline of 5% from the average session volume of 143,685 shares. The stock had previously closed at $2.05.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BTMD. B. Riley Financial reaffirmed a “neutral” rating on shares of biote in a research note on Thursday, November 6th. Truist Financial set a $5.00 price objective on shares of biote in a research note on Wednesday, January 7th. Wall Street Zen cut shares of biote from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of biote in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.67.

biote Stock Up 0.5%

The business has a 50-day moving average of $2.35 and a 200-day moving average of $2.73. The stock has a market cap of $94.06 million, a price-to-earnings ratio of 2.61 and a beta of 1.15.

Hedge Funds Weigh In On biote

A number of hedge funds have recently added to or reduced their stakes in BTMD. Fisher Asset Management LLC acquired a new stake in biote in the third quarter valued at approximately $30,000. LPL Financial LLC acquired a new position in shares of biote during the 4th quarter worth $32,000. CWM LLC lifted its stake in shares of biote by 952.7% in the 2nd quarter. CWM LLC now owns 8,674 shares of the company’s stock valued at $35,000 after purchasing an additional 7,850 shares during the last quarter. Quadrature Capital Ltd bought a new stake in biote in the fourth quarter worth $38,000. Finally, Millennium Management LLC bought a new stake in biote in the fourth quarter worth $40,000. Institutional investors and hedge funds 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.