Short Interest in BEST Inc. (NYSE:BEST) Declines By 9.5%

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

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

NYSE:BEST traded down $0.24 during midday trading on Wednesday, hitting $4.26. 16,712 shares of the company traded hands, compared to its average volume of 953,385. The firm has a fifty day moving average price of $5.09. BEST has a 12-month low of $3.77 and a 12-month high of $8.80. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -20.29, a P/E/G ratio of 3.78 and a beta of 1.20.

BEST (NYSE:BEST) last released its quarterly earnings results 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 return on equity of 10.65% and a negative net margin of 1.35%. The company had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the prior year, the firm posted ($0.15) EPS. BEST’s quarterly revenue was up 30.5% compared to the same quarter last year. As a group, equities research analysts expect that BEST will post 0.03 EPS for the current year.

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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