BEST (BSTI) Trading Down 5.8%

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BEST Inc (NYSE:BSTI) shares fell 5.8% on Thursday . The company traded as low as $5.01 and last traded at $5.02. 1,089,841 shares were traded during mid-day trading, a decline of 13% from the average session volume of 1,245,697 shares. The stock had previously closed at $5.33.

A number of research firms have weighed in on BSTI. Zacks Investment Research downgraded BEST from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. KeyCorp lowered their target price on BEST from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, July 19th. JPMorgan Chase & Co. lowered their target price on BEST from $14.80 to $12.00 and set an “overweight” rating on the stock in a report on Friday, August 10th. Finally, Macquarie raised BEST from a “neutral” rating to an “outperform” rating and set a $8.00 target price on the stock in a report on Wednesday, September 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $11.40.

The firm has a market cap of $1.85 billion and a price-to-earnings ratio of -4.06.

BEST (NYSE:BSTI) last posted its earnings results on Wednesday, August 8th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.12 billion. As a group, equities analysts forecast that BEST Inc will post -0.13 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of BSTI. OppenheimerFunds Inc. bought a new position in shares of BEST in the second quarter worth about $87,381,000. Tiger Pacific Capital LP raised its stake in shares of BEST by 75.2% in the second quarter. Tiger Pacific Capital LP now owns 4,581,042 shares of the company’s stock worth $55,980,000 after buying an additional 1,966,188 shares during the period. WIM Asset Management HK Ltd bought a new position in shares of BEST in the second quarter worth about $23,193,000. Indus Capital Partners LLC bought a new position in shares of BEST in the second quarter worth about $7,528,000. Finally, Pendal Group Ltd raised its stake in shares of BEST by 108.5% in the second quarter. Pendal Group Ltd now owns 985,361 shares of the company’s stock worth $12,041,000 after buying an additional 512,789 shares during the period. 18.55% of the stock is currently owned by hedge funds and other institutional investors.

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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