BEST Inc. (NYSE:BEST) Sees Significant Drop in Short Interest

BEST Inc. (NYSE:BEST) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 8,805,000 shares, a decrease of 9.5% from the June 30th total of 9,726,200 shares. Currently, 3.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 830,900 shares, the days-to-cover ratio is presently 10.6 days.

NYSE BEST traded down $0.04 during trading hours on Thursday, hitting $4.16. The company’s stock had a trading volume of 22,225 shares, compared to its average volume of 525,504. The stock has a fifty day moving average of $5.07. BEST has a twelve month low of $3.77 and a twelve month high of $8.58. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -19.79, a P/E/G ratio of 3.78 and a beta of 1.20.

BEST (NYSE:BEST) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.02 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.02. BEST had a negative net margin of 1.35% and a negative return on equity of 10.65%. The business had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same period in the prior year, the business posted ($0.15) earnings per share. BEST’s revenue was up 30.5% compared to the same quarter last year. Equities analysts expect that BEST will post 0.03 EPS for the current fiscal year.

Several research firms have recently commented on BEST. Zacks Investment Research cut shares of BEST from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. KeyCorp decreased their price target on shares of BEST from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. Finally, Sanford C. Bernstein lowered shares of BEST from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $11.00 to $6.00 in a report on Tuesday, April 23rd.

About BEST

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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