BEST’s (NYSE:BSTI) lock-up period will end on Monday, March 19th. BEST had issued 45,000,000 shares in its initial public offering on September 20th. The total size of the offering was $450,000,000 based on an initial share price of $10.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.
BSTI has been the subject of a number of research reports. KeyCorp set a $14.00 target price on shares of BEST and gave the stock a “buy” rating in a report on Wednesday, February 21st. Zacks Investment Research lowered shares of BEST from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Citigroup initiated coverage on shares of BEST in a report on Tuesday, December 5th. They set an “outperform” rating and a $13.00 target price for the company. Finally, Oppenheimer assumed coverage on shares of BEST in a report on Tuesday, December 5th. They set an “outperform” rating and a $13.00 target price for the company. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.52.
Shares of BEST (BSTI) opened at $9.85 on Friday. BEST has a 1-year low of $8.08 and a 1-year high of $13.25. The stock has a market cap of $3,680.00 and a PE ratio of -18.94.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new stake in shares of BEST in the third quarter valued at about $127,000. Huntington National Bank purchased a new stake in shares of BEST in the fourth quarter valued at about $135,000. Two Sigma Investments LP purchased a new stake in shares of BEST in the fourth quarter valued at about $166,000. Nwam LLC purchased a new stake in shares of BEST in the fourth quarter valued at about $226,000. Finally, Ellington Management Group LLC purchased a new stake in shares of BEST in the fourth quarter valued at about $280,000. 10.98% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: “BEST Inc’s Lock-Up Period Will End on March 19th (NYSE:BSTI)” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this news story can be viewed at https://ledgergazette.com/2018/03/16/best-incs-lock-up-period-will-end-on-march-19th-nysebsti.html.
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.
Receive News & Ratings for BEST Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BEST and related companies with MarketBeat.com's FREE daily email newsletter.