Kent Lake Capital LLC Reduces Stock Position in biote Corp. (NASDAQ:BTMD)

Kent Lake Capital LLC decreased its holdings in biote Corp. (NASDAQ:BTMD - Free Report) by 86.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 177,210 shares of the company's stock after selling 1,107,087 shares during the period. Kent Lake Capital LLC owned about 0.24% of biote worth $875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BTMD. Bandera Partners LLC increased its stake in shares of biote by 7.5% during the fourth quarter. Bandera Partners LLC now owns 1,832,732 shares of the company's stock worth $9,054,000 after purchasing an additional 127,410 shares during the period. Wasatch Advisors LP increased its stake in shares of biote by 156.4% during the first quarter. Wasatch Advisors LP now owns 1,057,358 shares of the company's stock worth $6,545,000 after purchasing an additional 644,906 shares during the period. Vanguard Group Inc. increased its stake in shares of biote by 3.3% during the third quarter. Vanguard Group Inc. now owns 1,024,538 shares of the company's stock worth $5,246,000 after purchasing an additional 32,252 shares during the period. SW Investment Management LLC increased its stake in shares of biote by 3.5% during the fourth quarter. SW Investment Management LLC now owns 675,000 shares of the company's stock worth $3,334,000 after purchasing an additional 22,651 shares during the period. Finally, BlackRock Inc. bought a new position in shares of biote during the second quarter worth approximately $4,030,000. Institutional investors own 21.68% of the company's stock.

biote Stock Up 2.3 %

Shares of BTMD stock traded up $0.13 during trading hours on Friday, reaching $5.88. The company's stock had a trading volume of 164,289 shares, compared to its average volume of 147,549. The firm's 50 day simple moving average is $5.34 and its 200-day simple moving average is $5.12. The company has a market capitalization of $438.24 million, a price-to-earnings ratio of -26.73 and a beta of 0.87. biote Corp. has a fifty-two week low of $3.65 and a fifty-two week high of $8.22.

biote (NASDAQ:BTMD - Get Free Report) last issued its earnings results on Tuesday, March 12th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.06. The firm had revenue of $45.70 million for the quarter, compared to the consensus estimate of $45.50 million. biote had a negative return on equity of 45.10% and a net margin of 1.79%. Sell-side analysts predict that biote Corp. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on BTMD shares. Roth Mkm restated a "buy" rating and set a $9.00 price objective (up previously from $8.00) on shares of biote in a research note on Wednesday, March 13th. Truist Financial lowered their price objective on biote from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Thursday, January 18th. Jefferies Financial Group started coverage on biote in a research note on Thursday, February 1st. They set a "buy" rating and a $6.55 price objective on the stock. Finally, B. Riley started coverage on biote in a research note on Tuesday, February 20th. They set a "buy" rating and a $9.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $8.11.

biote 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.