biote (NASDAQ:BTMD) Lowered to Hold Rating by Wall Street Zen

Key Points

• biote was downgraded from a "strong-buy" to a "hold" rating by Wall Street Zen, indicating a shift in investor sentiment towards the stock.
• B. Riley also reduced its rating from "buy" to "neutral" and cut the price target for biote from $8.00 to $4.00.
• biote's stock price has seen volatility, currently trading at $2.88, significantly below its 52-week high of $6.98.

biote (NASDAQ:BTMD - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Separately, B. Riley lowered biote from a "buy" rating to a "neutral" rating and dropped their price target for the company from $8.00 to $4.00 in a research report on Thursday.

biote Price Performance

BTMD stock opened at $2.88 on Friday. biote has a 52-week low of $2.87 and a 52-week high of $6.98. The company's 50 day simple moving average is $4.00 and its 200-day simple moving average is $4.03. The firm has a market capitalization of $157.56 million, a P/E ratio of 3.20 and a beta of 1.21.

biote (NASDAQ:BTMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 net margin of 15.73% and a negative return on equity of 19.71%. Sell-side analysts predict that biote will post 0.75 EPS for the current fiscal year.

Institutional Trading of biote

Hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its position in shares of biote by 952.7% in the second quarter. CWM LLC now owns 8,674 shares of the company's stock worth $35,000 after purchasing an additional 7,850 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of biote in the first quarter worth approximately $43,000. AQR Capital Management LLC purchased a new stake in shares of biote in the first quarter worth approximately $43,000. Virtu Financial LLC purchased a new stake in shares of biote in the first quarter worth approximately $62,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of biote in the second quarter worth approximately $66,000. 21.68% of the stock is owned by hedge funds and other institutional investors.

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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