Short Interest in BEST Inc. (NYSE:BEST) Declines By 86.4%

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

Institutional investors and hedge funds have recently bought and sold shares of the business. MARSHALL WACE ASIA Ltd purchased a new position in BEST during the 3rd quarter worth $323,000. Goldman Sachs Group Inc. boosted its holdings in BEST by 3.1% during the 3rd quarter. Goldman Sachs Group Inc. now owns 12,965,352 shares of the company’s stock worth $21,652,000 after acquiring an additional 387,539 shares during the last quarter. State Street Corp raised its stake in shares of BEST by 7.3% during the 4th quarter. State Street Corp now owns 1,598,147 shares of the company’s stock worth $1,361,000 after purchasing an additional 108,574 shares during the period. Norges Bank bought a new stake in shares of BEST during the 4th quarter worth $1,267,000. Finally, Bank of America Corp DE raised its stake in shares of BEST by 8.5% during the 4th quarter. Bank of America Corp DE now owns 1,351,093 shares of the company’s stock worth $1,149,000 after purchasing an additional 105,296 shares during the period. 28.14% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BEST stock traded up $0.07 during trading hours on Friday, hitting $1.20. 695,811 shares of the company were exchanged, compared to its average volume of 418,048. The firm has a market cap of $93.05 million, a P/E ratio of 10.42 and a beta of 0.60. BEST has a fifty-two week low of $0.99 and a fifty-two week high of $12.35. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 1.17. The company has a 50 day simple moving average of $2.42 and a two-hundred day simple moving average of $3.74.

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

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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