BEST’s (NYSE:BSTI) lock-up period is set to end on Monday, March 19th. BEST had issued 45,000,000 shares in its IPO on September 20th. The total size of the offering was $450,000,000 based on an initial share price of $10.00. After the expiration of BEST’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
A number of research firms recently weighed in on BSTI. Zacks Investment Research raised BEST from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Oppenheimer began coverage on BEST in a research report on Tuesday, December 5th. They set an “outperform” rating and a $13.00 price objective for the company. Citigroup began coverage on BEST in a research report on Tuesday, December 5th. They set an “outperform” rating and a $13.00 price objective for the company. Finally, KeyCorp set a $14.00 price objective on BEST and gave the company a “buy” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $14.52.
BEST (BSTI) opened at $10.42 on Wednesday. BEST has a 52-week low of $8.08 and a 52-week high of $13.25. The firm has a market capitalization of $3,890.00 and a P/E ratio of -20.04.
Hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new position in BEST during the 3rd quarter valued at approximately $127,000. Huntington National Bank bought a new position in BEST during the 4th quarter valued at approximately $135,000. Two Sigma Investments LP bought a new position in BEST during the 4th quarter valued at approximately $166,000. Nwam LLC bought a new position in BEST during the 4th quarter valued at approximately $226,000. Finally, Ellington Management Group LLC bought a new position in BEST during the 4th quarter valued at approximately $280,000. 10.98% of the stock is owned by institutional investors.
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BEST Company Profile
BEST Inc is engaged in providing supply chain solutions. The Company offers a cloud based platform, BEST Cloud which is integration of online and offline retail to offer delivery. It provides technology-enabled solutions to its users. The Company’s service offerings include BEST supply chain management, BEST express, BEST freight, BEST store+, BEST global, BEST cargo and BEST Ucargo.
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