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

BEST Inc. (NYSE:BESTGet Rating) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 1,290,000 shares, a decrease of 86.4% from the April 30th total of 9,500,000 shares. Based on an average trading volume of 469,200 shares, the days-to-cover ratio is currently 2.7 days.

Shares of BEST stock traded up $0.01 during mid-day trading on Wednesday, hitting $1.07. The stock had a trading volume of 449,693 shares, compared to its average volume of 408,282. BEST has a 12-month low of $0.99 and a 12-month high of $12.35. The firm has a market capitalization of $82.97 million, a P/E ratio of 8.83 and a beta of 0.60. The firm’s 50-day moving average is $2.53 and its two-hundred day moving average is $3.80. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.17 and a quick ratio of 1.17.

BEST (NYSE:BESTGet Rating) last issued its earnings results on Tuesday, March 8th. The company reported ($1.40) earnings per share for the quarter. BEST had a negative return on equity of 252.46% and a net margin of 1.26%. The firm had revenue of $427.59 million during the quarter.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. purchased a new stake in shares of BEST during the 2nd quarter worth $39,000. Qube Research & Technologies Ltd purchased a new stake in BEST in the first quarter valued at about $53,000. Renaissance Technologies LLC purchased a new stake in BEST in the first quarter valued at about $59,000. Virtu Financial LLC raised its stake in BEST by 291.8% in the first quarter. Virtu Financial LLC now owns 124,277 shares of the company’s stock valued at $80,000 after buying an additional 92,560 shares during the last quarter. Finally, State Street Corp raised its stake in BEST by 6.5% in the first quarter. State Street Corp now owns 1,701,375 shares of the company’s stock valued at $1,097,000 after buying an additional 103,228 shares during the last quarter. Hedge funds and other institutional investors own 28.14% of the company’s stock.

About BEST (Get Rating)

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.

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