BEST’s (NYSE:BSTI) lock-up period is set to end on Monday, March 19th. 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. After the expiration of BEST’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
BSTI has been the subject of a number of research reports. Oppenheimer began coverage on BEST in a research report on Tuesday, December 5th. They set an “outperform” rating and a $13.00 target price for the company. Zacks Investment Research lowered BEST from a “hold” rating to a “sell” rating in a research note on Tuesday, January 16th. KeyCorp set a $14.00 price target on BEST and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Citigroup assumed coverage on BEST in a research note on Tuesday, December 5th. They set an “outperform” rating and a $13.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $14.52.
BEST stock opened at $10.14 on Monday. BEST has a 52 week low of $8.08 and a 52 week high of $13.25.
A number of institutional investors and hedge funds have recently bought and sold shares of BSTI. Janney Montgomery Scott LLC acquired a new stake in BEST in the third quarter worth about $127,000. Huntington National Bank acquired a new stake in BEST in the fourth quarter worth about $135,000. Two Sigma Investments LP acquired a new stake in BEST in the fourth quarter worth about $166,000. Nwam LLC acquired a new stake in BEST in the fourth quarter worth about $226,000. Finally, Ellington Management Group LLC acquired a new stake in BEST in the fourth quarter worth about $280,000. Institutional investors own 10.98% of the company’s stock.
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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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