Shares of BEST Inc (NYSE:BSTI) traded down 6.7% during trading on Wednesday . The company traded as low as $6.67 and last traded at $6.82. 1,566,965 shares traded hands during trading, an increase of 28% from the average session volume of 1,221,520 shares. The stock had previously closed at $7.31.
A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of BEST from a “hold” rating to a “sell” rating in a research report on Monday, August 20th. JPMorgan Chase & Co. dropped their price target on shares of BEST from $14.80 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, August 10th. KeyCorp dropped their price target on shares of BEST from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 9th. Macquarie downgraded shares of BEST from an “outperform” rating to a “neutral” rating in a research report on Wednesday, June 13th. Finally, Citigroup upgraded shares of BEST from a “neutral” rating to a “buy” rating in a report on Saturday, June 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.60.
The firm has a market capitalization of $2.52 billion and a P/E ratio of -5.45.
BEST (NYSE:BSTI) last released its earnings results on Wednesday, August 8th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.12 billion. analysts forecast that BEST Inc will post -0.15 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its holdings in shares of BEST by 64.8% in the 2nd quarter. SG Americas Securities LLC now owns 20,758 shares of the company’s stock worth $254,000 after purchasing an additional 8,161 shares in the last quarter. AJ Wealth Strategies LLC raised its holdings in shares of BEST by 22.3% in the 2nd quarter. AJ Wealth Strategies LLC now owns 53,268 shares of the company’s stock worth $651,000 after purchasing an additional 9,710 shares in the last quarter. Profund Advisors LLC bought a new stake in shares of BEST in the 1st quarter worth approximately $103,000. Cubist Systematic Strategies LLC acquired a new stake in shares of BEST during the first quarter valued at approximately $110,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of BEST during the first quarter valued at approximately $115,000. Institutional investors and hedge funds own 18.54% of the company’s stock.
BEST Company Profile (NYSE:BSTI)
BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform enables its ecosystem participants to operate their businesses through various SaaS-based applications. The company applies its technologies to a range of applications, such as network and route optimization, swap bodies, sorting line automation, smart warehouses, and store management.
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