BEST Inc. (NYSE:BEST) Short Interest Up 10.5% in October

BEST Inc. (NYSE:BEST) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 11,830,000 shares, a growth of 10.5% from the September 30th total of 10,710,000 shares. Based on an average daily trading volume, of 1,510,000 shares, the days-to-cover ratio is currently 7.8 days. Currently, 4.9% of the shares of the company are sold short.

A number of analysts have recently weighed in on the stock. ValuEngine upgraded shares of BEST from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Sanford C. Bernstein cut shares of BEST from a “market perform” rating to an “underperform” rating in a research note on Tuesday, August 20th. Finally, Zacks Investment Research upgraded shares of BEST from a “sell” rating to a “hold” rating in a research note on Thursday.

Hedge funds have recently made changes to their positions in the company. Creative Planning acquired a new position in shares of BEST in the 3rd quarter valued at $2,640,000. DNB Asset Management AS acquired a new position in shares of BEST in the 3rd quarter valued at $2,934,000. TimesSquare Capital Management LLC acquired a new position in shares of BEST in the 3rd quarter valued at $28,841,000. Baltimore Washington Financial Advisors Inc. acquired a new position in shares of BEST in the 3rd quarter valued at $1,130,000. Finally, Calamos Advisors LLC acquired a new position in shares of BEST in the 3rd quarter valued at $1,196,000. Institutional investors own 19.73% of the company’s stock.

NYSE:BEST traded up $0.21 during trading hours on Friday, hitting $5.84. 1,546,500 shares of the company traded hands, compared to its average volume of 1,661,312. BEST has a twelve month low of $3.77 and a twelve month high of $6.86. The firm has a 50-day moving average of $5.32 and a 200 day moving average of $5.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.95 and a quick ratio of 0.83.

BEST (NYSE:BEST) last released its earnings results on Wednesday, November 13th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. BEST had a negative net margin of 0.86% and a negative return on equity of 4.83%. The firm had revenue of $8.75 billion during the quarter, compared to analysts’ expectations of $9.14 billion. The firm’s revenue was up 21.6% on a year-over-year basis. Analysts anticipate that BEST will post -0.06 earnings per share for the current year.

BEST Company Profile

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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