Weiss Ratings Upgrades biote (NASDAQ:BTMD) to Hold (C-)

Key Points

• Weiss Ratings upgraded biote (NASDAQ:BTMD) from a "sell" to a "hold" rating, indicating a more favorable outlook for the company's stock.
• Recent reports from other firms show a mix of ratings, with Wall Street Zen downgrading biote from "strong-buy" to "hold," and B. Riley lowering the price target from $8.00 to $4.00.
• biote's stock is currently trading at $2.89, reflecting a decline of 1.7%, with a market cap of approximately $142.88 million and a P/E ratio of 3.21.

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

Several other research firms have also recently issued reports on BTMD. Wall Street Zen cut shares of biote from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. B. Riley cut shares of biote from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $8.00 to $4.00 in a research note on Thursday, August 7th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $6.00.

biote Stock Down 1.7%

BTMD traded down $0.05 on Friday, hitting $2.89. The company's stock had a trading volume of 96,883 shares, compared to its average volume of 162,969. The company's 50 day simple moving average is $3.13 and its 200-day simple moving average is $3.55. The firm has a market cap of $142.88 million, a P/E ratio of 3.21 and a beta of 1.16. biote has a 12 month low of $2.71 and a 12 month high of $6.98.

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

Institutional Trading of biote

A number of hedge funds have recently made changes to their positions in BTMD. CWM LLC lifted its holdings in shares of biote by 952.7% during the 2nd quarter. CWM LLC now owns 8,674 shares of the company's stock worth $35,000 after acquiring an additional 7,850 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of biote during the 2nd quarter worth $41,000. Hsbc Holdings PLC bought a new stake in shares of biote during the 1st quarter worth $43,000. AQR Capital Management LLC bought a new stake in shares of biote during the 1st quarter worth $43,000. Finally, Jane Street Group LLC bought a new stake in shares of biote during the 2nd quarter worth $53,000. 21.68% of the stock is owned by 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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