BEST (NYSE:BEST) Shares Gap Down on Disappointing Earnings

BEST Inc. (NYSE:BEST)’s share price gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $1.62, but opened at $1.49. BEST shares last traded at $1.45, with a volume of 31,743 shares traded.

The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.62). The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.99 billion. BEST had a negative return on equity of 75.01% and a negative net margin of 6.38%. BEST’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter last year, the company posted ($1.81) EPS.

Separately, Zacks Investment Research upgraded BEST from a “sell” rating to a “hold” rating in a report on Monday, March 8th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of BEST by 3.6% in the first quarter. Northern Trust Corp now owns 239,827 shares of the company’s stock worth $450,000 after acquiring an additional 8,339 shares during the last quarter. US Bancorp DE grew its stake in shares of BEST by 215.0% in the fourth quarter. US Bancorp DE now owns 12,757 shares of the company’s stock worth $26,000 after acquiring an additional 8,707 shares during the last quarter. UBS Group AG grew its stake in shares of BEST by 3.2% in the first quarter. UBS Group AG now owns 596,247 shares of the company’s stock worth $1,121,000 after acquiring an additional 18,458 shares during the last quarter. Wetherby Asset Management Inc. purchased a new stake in shares of BEST during the fourth quarter valued at $40,000. Finally, Virtu Financial LLC boosted its position in shares of BEST by 28.6% during the first quarter. Virtu Financial LLC now owns 90,753 shares of the company’s stock valued at $171,000 after buying an additional 20,209 shares during the last quarter. 20.96% of the stock is currently owned by hedge funds and other institutional investors.

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $527.27 million, a P/E ratio of -1.77 and a beta of 0.54. The firm’s 50-day simple moving average is $1.41.

BEST Company Profile (NYSE:BEST)

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