B. Riley Financial Cuts biote (NASDAQ:BTMD) Price Target to $2.00

biote (NASDAQ:BTMD) had its target price cut by B. Riley Financial from $3.00 to $2.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms also recently weighed in on BTMD. Weiss Ratings restated a “sell (d+)” rating on shares of biote in a report on Monday, December 29th. TD Cowen dropped their target price on shares of biote from $3.00 to $2.50 and set a “buy” rating on the stock in a report on Thursday. Truist Financial set a $5.00 target price on shares of biote in a research report on Wednesday, January 7th. Finally, National Bank Financial set a $2.50 price target on shares of biote in a report on Thursday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, biote presently has a consensus rating of “Hold” and a consensus price target of $3.00.

biote Stock Down 9.1%

Shares of NASDAQ:BTMD opened at $1.40 on Thursday. The business’s 50 day moving average is $2.15 and its 200 day moving average is $2.62. The stock has a market cap of $63.92 million, a P/E ratio of 1.87 and a beta of 1.14. biote has a 52-week low of $1.39 and a 52-week high of $4.75.

biote (NASDAQ:BTMD) last issued its earnings results on Wednesday, March 11th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. biote had a negative return on equity of 21.42% and a net margin of 14.07%.The business had revenue of $46.41 million during the quarter, compared to analyst estimates of $45.79 million. On average, sell-side analysts anticipate that biote will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On biote

A number of hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC bought a new stake in biote during the third quarter valued at about $30,000. LPL Financial LLC bought a new position in biote in the fourth quarter worth about $32,000. Quadrature Capital Ltd bought a new position in biote in the fourth quarter worth about $38,000. Millennium Management LLC purchased a new stake in shares of biote during the fourth quarter valued at about $40,000. Finally, Marshall Wace LLP purchased a new stake in shares of biote during the fourth quarter valued at about $40,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

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.