biote (NASDAQ:BTMD) Cut to Sell (D+) at Weiss Ratings

Key Points

• biote (NASDAQ:BTMD) has been downgraded by Weiss Ratings from a "hold (c-)" to a "sell (d+)" rating.
• Analysts have also reduced biote's target price from $8.00 to $4.00, with the current consensus target price set at $6.00.
• The company's latest earnings report shows an EPS of $0.10, exceeding estimates, despite revenues falling short of expectations.

biote (NASDAQ:BTMD - Get Free Report) was downgraded by analysts at Weiss Ratings from a "hold (c-)" rating to a "sell (d+)" rating in a research note issued on Wednesday,Weiss Ratings reports.

A number of other analysts have also weighed in on the stock. B. Riley lowered shares of biote from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $8.00 to $4.00 in a report on Thursday, August 7th. Wall Street Zen lowered shares of biote from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $6.00.

biote Stock Up 1.1%

Shares of BTMD traded up $0.03 during mid-day trading on Wednesday, hitting $2.87. 92,685 shares of the company's stock were exchanged, compared to its average volume of 166,433. The firm has a market cap of $141.89 million, a price-to-earnings ratio of 3.19 and a beta of 1.16. The stock's 50-day simple moving average is $3.27 and its 200-day simple moving average is $3.61. biote has a 52 week low of $2.76 and a 52 week high of $6.98.

biote (NASDAQ:BTMD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.04. biote had a net margin of 15.73% and a negative return on equity of 21.00%. The company had revenue of $48.86 million for the quarter, compared to analyst estimates of $49.52 million. Analysts forecast that biote will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On biote

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanders Morris Harris LLC raised its position in shares of biote by 76.7% during the third quarter. Sanders Morris Harris LLC now owns 84,608 shares of the company's stock valued at $254,000 after buying an additional 36,725 shares during the last quarter. GatePass Capital LLC raised its position in shares of biote by 316.7% during the second quarter. GatePass Capital LLC now owns 50,000 shares of the company's stock valued at $201,000 after buying an additional 38,000 shares during the last quarter. Topline Capital Management LLC purchased a new position in shares of biote in the second quarter valued at $115,000. Man Group plc grew its holdings in shares of biote by 419.1% in the second quarter. Man Group plc now owns 64,027 shares of the company's stock valued at $257,000 after purchasing an additional 51,693 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in biote by 142.1% during the second quarter. Bridgeway Capital Management LLC now owns 121,053 shares of the company's stock valued at $487,000 after purchasing an additional 71,053 shares during the last quarter. 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.

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