BEST Inc (NYSE:BSTI) reached a new 52-week low on Tuesday . The company traded as low as $8.45 and last traded at $8.51, with a volume of 660221 shares trading hands. The stock had previously closed at $8.66.
BSTI has been the topic of a number of research reports. Goldman Sachs Group started coverage on BEST in a research report on Sunday, October 15th. They set a “buy” rating and a $16.60 price target on the stock. JPMorgan Chase & Co. started coverage on BEST in a report on Tuesday, October 17th. They issued an “overweight” rating on the stock. Deutsche Bank started coverage on BEST in a report on Monday, October 16th. They issued a “buy” rating on the stock. KeyCorp started coverage on BEST in a report on Monday, October 16th. They issued an “overweight” rating and a $16.00 price objective on the stock. Finally, Oppenheimer started coverage on BEST in a report on Tuesday, December 5th. They issued an “outperform” rating and a $13.00 price objective on the stock. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.92.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nwam LLC purchased a new position in shares of BEST in the fourth quarter worth about $226,000. Huntington National Bank purchased a new position in shares of BEST in the fourth quarter worth about $135,000. Finally, Janney Montgomery Scott LLC purchased a new position in BEST during the 3rd quarter valued at about $127,000. Hedge funds and other institutional investors own 13.32% of the company’s stock.
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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