biote (NASDAQ:BTMD) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of biote (NASDAQ:BTMD) from a buy rating to a hold rating in a report published on Sunday.

BTMD has been the subject of a number of other reports. Weiss Ratings upgraded biote from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. B. Riley lowered biote from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $8.00 to $4.00 in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.00.

biote Trading Up 1.1%

Shares of BTMD opened at $2.86 on Friday. The business’s 50-day moving average price is $3.09 and its 200 day moving average price is $3.52. The stock has a market capitalization of $141.40 million, a P/E ratio of 3.18 and a beta of 1.16. biote has a 1-year low of $2.65 and a 1-year high of $6.98.

biote (NASDAQ:BTMD) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The firm had revenue of $48.86 million for the quarter, compared to analysts’ expectations of $49.52 million. biote had a negative return on equity of 21.00% and a net margin of 15.73%. On average, research analysts predict that biote will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On biote

Several institutional investors have recently made changes to their positions in BTMD. Virtu Financial LLC acquired a new stake in shares of biote during the 1st quarter valued at about $62,000. Nuveen LLC acquired a new stake in shares of biote during the 1st quarter valued at about $872,000. Hsbc Holdings PLC acquired a new stake in shares of biote during the 1st quarter valued at about $43,000. Trexquant Investment LP lifted its holdings in shares of biote by 18.5% during the 1st quarter. Trexquant Investment LP now owns 120,544 shares of the company’s stock valued at $401,000 after buying an additional 18,787 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in biote in the 1st quarter worth approximately $76,000. 21.68% of the stock is currently owned by institutional investors and hedge funds.

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.