biote (NASDAQ:BTMD) Trading 11.2% Higher – Should You Buy?

biote Corp. (NASDAQ:BTMD)’s stock price traded up 11.2% on Thursday . The company traded as high as $1.59 and last traded at $1.59. 379,298 shares were traded during mid-day trading, an increase of 13% from the average session volume of 335,956 shares. The stock had previously closed at $1.43.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Cowen reduced their price target on shares of biote from $3.00 to $2.50 and set a “buy” rating on the stock in a research report on Thursday, March 12th. B. Riley Financial dropped their target price on shares of biote from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, March 12th. National Bank Financial set a $2.50 target price on shares of biote in a research report on Thursday, March 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of biote in a research note on Monday, December 29th. Finally, Truist Financial set a $5.00 price objective on shares of biote in a research report on Wednesday, January 7th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, biote presently has an average rating of “Hold” and an average target price of $3.00.

biote Price Performance

The stock has a 50-day moving average of $1.86 and a 200 day moving average of $2.42. The stock has a market capitalization of $62.89 million, a price-to-earnings ratio of 2.12 and a beta of 1.29.

biote (NASDAQ:BTMD) last issued its earnings results on Wednesday, March 11th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. biote had a net margin of 14.07% and a negative return on equity of 23.41%. The company had revenue of $46.41 million during the quarter, compared to analysts’ expectations of $45.79 million. Sell-side analysts anticipate that biote Corp. will post 0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rothschild Wealth LLC bought a new stake in shares of biote in the 4th quarter valued at $380,000. Rice Hall James & Associates LLC grew its stake in biote by 86.6% in the third quarter. Rice Hall James & Associates LLC now owns 227,024 shares of the company’s stock valued at $681,000 after acquiring an additional 105,369 shares during the period. WINTON GROUP Ltd bought a new stake in shares of biote in the third quarter worth about $309,000. State Street Corp increased its holdings in shares of biote by 17.3% in the fourth quarter. State Street Corp now owns 600,114 shares of the company’s stock worth $1,560,000 after acquiring an additional 88,402 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of biote by 142.1% during the second quarter. Bridgeway Capital Management LLC now owns 121,053 shares of the company’s stock worth $487,000 after purchasing an additional 71,053 shares during the period. 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.