BEST’s (NASDAQ:BSTI) quiet period will end on Monday, October 30th. BEST had issued 45,000,000 shares in its IPO on September 20th. The total size of the offering was $450,000,000 based on an initial share price of $10.00. During BEST’s quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of equities analysts recently issued reports on BSTI shares. Stifel Nicolaus initiated coverage on BEST in a report on Monday, October 16th. They issued a “buy” rating and a $16.00 price objective on the stock. J P Morgan Chase & Co initiated coverage on shares of BEST in a research report on Tuesday, October 17th. They set an “overweight” rating for the company. KeyCorp initiated coverage on shares of BEST in a research report on Monday, October 16th. They set an “overweight” rating and a $16.00 price target for the company. Deutsche Bank AG initiated coverage on shares of BEST in a research report on Monday, October 16th. They set a “buy” rating for the company. Finally, Credit Suisse Group began coverage on shares of BEST in a research report on Monday, October 16th. They set an “outperform” rating for the company. Six equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $16.20.
TRADEMARK VIOLATION NOTICE: “BEST Inc’s (BSTI) Quiet Period To End on October 30th” was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. & international copyright law. The original version of this article can be viewed at https://www.dispatchtribunal.com/2017/11/11/best-incs-bsti-quiet-period-will-end-on-october-30th.html.
Shares of BEST (NASDAQ:BSTI) traded up $0.16 on Friday, reaching $11.96. The company’s stock had a trading volume of 1,236,888 shares, compared to its average volume of 1,290,000. BEST has a 52 week low of $10.31 and a 52 week high of $13.25.
A number of institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN purchased a new position in BEST in the 3rd quarter valued at about $66,074,000. Citadel Advisors LLC purchased a new position in BEST in the 3rd quarter valued at about $9,018,000. Zevenbergen Capital Investments LLC acquired a new stake in shares of BEST in the 3rd quarter valued at about $22,958,000. FNY Managed Accounts LLC acquired a new stake in shares of BEST in the 3rd quarter valued at about $220,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of BEST in the 3rd quarter valued at about $2,247,000.
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 Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BEST Inc and related companies with MarketBeat.com's FREE daily email newsletter.