BEST (NYSE:BEST) Shares Gap Down to $4.50

BEST Inc. (NYSE:BEST)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $4.50, but opened at $4.50. BEST shares last traded at $4.23, with a volume of 65,366 shares trading hands.

Several analysts have recently weighed in on the stock. Sanford C. Bernstein lowered shares of BEST from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $11.00 to $6.00 in a research report on Tuesday, April 23rd. KeyCorp decreased their target price on shares of BEST from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 15th. Finally, Zacks Investment Research lowered shares of BEST from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd.

The stock has a market cap of $1.81 billion, a PE ratio of -20.24, a price-to-earnings-growth ratio of 3.78 and a beta of 1.20. The business’s 50-day moving average price is $5.07.

BEST (NYSE:BEST) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.02 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.02. The firm had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.89 billion. BEST had a negative net margin of 1.35% and a negative return on equity of 10.65%. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.15) earnings per share. As a group, analysts forecast that BEST Inc. will post 0.03 EPS for the current fiscal year.

About BEST (NYSE:BEST)

BEST Inc operates as a smart supply chain service provider in the People's Republic of China. Its proprietary technology platform 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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