biote (NASDAQ:BTMD) Trading 4.2% Higher – Here’s Why

biote Corp. (NASDAQ:BTMD) shares traded up 4.2% during trading on Wednesday . The stock traded as high as $2.02 and last traded at $2.00. 220,480 shares traded hands during trading, an increase of 4% from the average session volume of 212,696 shares. The stock had previously closed at $1.92.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial lowered their target price on biote from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. TD Cowen lowered their target price on biote from $3.00 to $2.50 and set a “buy” rating for the company in a research note on Thursday, March 12th. National Bank Financial set a $2.50 target price on biote in a research note on Thursday, March 12th. B. Riley Financial lowered their target price on biote from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, March 12th. Finally, Weiss Ratings raised biote from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, biote presently has a consensus rating of “Hold” and an average price target of $2.75.

biote Stock Performance

The company has a 50-day moving average price of $1.87 and a 200-day moving average price of $2.17. The firm has a market capitalization of $75.16 million, a price-to-earnings ratio of 4.55 and a beta of 1.71.

biote (NASDAQ:BTMD) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $44.94 million for the quarter, compared to analyst estimates of $46.02 million. biote had a negative return on equity of 25.72% and a net margin of 8.29%. On average, research analysts expect that biote Corp. will post 0.36 earnings per share for the current fiscal year.

Institutional Trading of biote

A number of large investors have recently made changes to their positions in BTMD. Fisher Asset Management LLC acquired a new stake in shares of biote in the 3rd quarter valued at about $30,000. LPL Financial LLC acquired a new stake in shares of biote in the 4th quarter valued at about $32,000. Abel Hall LLC boosted its position in shares of biote by 60.3% in the 1st quarter. Abel Hall LLC now owns 27,921 shares of the company’s stock valued at $38,000 after purchasing an additional 10,507 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of biote in the 4th quarter valued at about $38,000. Finally, Marshall Wace LLP acquired a new stake in shares of biote in the 4th quarter valued at about $40,000. 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.