biote (NASDAQ:BTMD) Stock Price Up 11.2% - What's Next?

Key Points

• Shares jumped 11.2% to $1.59 on Thursday with ~379,298 shares traded (about 13% above average), although the price remains below the 50‑day ($1.88) and 200‑day ($2.44) moving averages.
• Analysts are mixed: the consensus rating is "Hold" with an average target of $3.00, while recent notes range from Truist's $5.00 target to price cuts and cautious ratings from TD Cowen, B. Riley and Weiss.
• biote beat the quarter with EPS of $0.06 vs. $0.05 expected and revenue $46.41M vs. $45.79M, producing a 14.07% net margin and a market cap of about $62.9M (PE ~2.12).

biote Corp. (NASDAQ:BTMD - Get Free Report) shares traded up 11.2% during trading on Thursday . The stock traded as high as $1.59 and last traded at $1.59. 379,298 shares traded hands during 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 brokerages recently weighed in on BTMD. National Bank Financial set a $2.50 target price on biote in a research note on Thursday, March 12th. Truist Financial set a $5.00 price target on biote in a research note on Wednesday, January 7th. Weiss Ratings reissued a "sell (d+)" rating on shares of biote in a report on Monday, December 29th. TD Cowen dropped their price target on biote from $3.00 to $2.50 and set a "buy" rating on the stock in a research note on Thursday, March 12th. Finally, B. Riley Financial cut their price objective on shares of biote from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Thursday, March 12th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $3.00.

biote Price Performance

The stock has a market capitalization of $62.88 million, a PE ratio of 2.12 and a beta of 1.29. The business's fifty day moving average price is $1.88 and its two-hundred day moving average price is $2.44.

biote (NASDAQ:BTMD - Get Free Report) last issued its earnings results on Wednesday, March 11th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. biote had a negative return on equity of 23.41% and a net margin of 14.07%.The company had revenue of $46.41 million during the quarter, compared to analyst estimates of $45.79 million. As a group, equities research analysts anticipate that biote Corp. will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On biote

A number of institutional investors and hedge funds have recently modified their holdings of BTMD. Cubist Systematic Strategies LLC purchased a new stake in biote in the first quarter valued at approximately $76,000. AQR Capital Management LLC purchased a new position in biote during the 1st quarter worth approximately $43,000. Geode Capital Management LLC raised its position in biote by 7.2% during the 2nd quarter. Geode Capital Management LLC now owns 616,697 shares of the company's stock worth $2,480,000 after buying an additional 41,333 shares during the last quarter. XTX Topco Ltd acquired a new stake in biote during the 2nd quarter valued at approximately $68,000. Finally, Quadrature Capital Ltd acquired a new stake in biote during the 2nd quarter valued at approximately $41,000. Institutional investors and hedge funds own 21.68% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.