BEST Inc (NYSE:BSTI) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $9.10 and last traded at $9.42, with a volume of 954000 shares. The stock had previously closed at $9.65.
Several equities research analysts have recently issued reports on BSTI shares. J P Morgan Chase & Co started coverage on shares of BEST in a research note on Tuesday, October 17th. They issued an “overweight” rating on the stock. Deutsche Bank started coverage on shares of BEST in a research note on Monday, October 16th. They issued a “buy” rating on the stock. Citigroup started coverage on shares of BEST in a research note on Tuesday. They issued an “outperform” rating and a $13.00 price objective on the stock. KeyCorp started coverage on shares of BEST in a research note on Monday, October 16th. They issued an “overweight” rating and a $16.00 price objective on the stock. Finally, Goldman Sachs Group started coverage on shares of BEST in a research note on Sunday, October 15th. They issued a “buy” rating and a $16.60 price objective on the stock. Eight analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $14.92.
A hedge fund recently bought a new stake in BEST stock. Janney Montgomery Scott LLC purchased a new position in shares of BEST Inc (NYSE:BSTI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,600 shares of the company’s stock, valued at approximately $127,000. 13.31% of the stock is owned by hedge funds and other institutional investors.
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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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