BEST Inc. (NYSE:BEST) Sees Large Increase in Short Interest

BEST Inc. (NYSE:BEST) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 49,000 shares, an increase of 7.2% from the February 29th total of 45,700 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 15,600 shares, the short-interest ratio is presently 3.1 days.

BEST Trading Down 2.7 %

BEST traded down $0.06 during trading on Wednesday, reaching $2.13. 894 shares of the company’s stock were exchanged, compared to its average volume of 14,642. The company has a current ratio of 0.54, a quick ratio of 0.53 and a debt-to-equity ratio of 132.28. BEST has a one year low of $1.68 and a one year high of $3.22. The firm has a fifty day moving average price of $2.21 and a two-hundred day moving average price of $2.35. The stock has a market capitalization of $42.34 million, a PE ratio of -0.37 and a beta of 0.98.

Hedge Funds Weigh In On BEST

A number of hedge funds have recently modified their holdings of BEST. Ergoteles LLC bought a new position in shares of BEST during the first quarter worth about $74,000. Renaissance Technologies LLC acquired a new position in shares of BEST in the 1st quarter worth approximately $59,000. State Street Corp boosted its stake in shares of BEST by 6.5% in the 1st quarter. State Street Corp now owns 1,701,375 shares of the company’s stock valued at $1,097,000 after purchasing an additional 103,228 shares during the last quarter. Virtu Financial LLC increased its position in shares of BEST by 291.8% during the first quarter. Virtu Financial LLC now owns 124,277 shares of the company’s stock worth $80,000 after buying an additional 92,560 shares during the period. Finally, Bank of America Corp DE raised its stake in BEST by 1.5% during the first quarter. Bank of America Corp DE now owns 1,371,077 shares of the company’s stock worth $885,000 after buying an additional 19,984 shares during the last quarter. Institutional investors and hedge funds own 5.09% of the company’s stock.

About BEST

BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform, BEST Cloud, 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.