BEST Inc. (NYSE:BEST) Sees Large Decline in Short Interest

BEST Inc. (NYSE:BEST) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 30,200 shares, a decline of 7.4% from the August 15th total of 32,600 shares. Based on an average daily volume of 39,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.3% of the shares of the stock are short sold.

BEST Trading Up 0.4 %

Shares of NYSE:BEST traded up $0.01 during midday trading on Wednesday, hitting $2.75. 11,841 shares of the stock were exchanged, compared to its average volume of 23,293. BEST has a twelve month low of $1.85 and a twelve month high of $2.77. The company has a 50 day moving average price of $2.74 and a 200-day moving average price of $2.40. The stock has a market cap of $55.48 million, a P/E ratio of -0.52 and a beta of 0.82.

Hedge Funds Weigh In On BEST

A hedge fund recently bought a new stake in BEST stock. Deuterium Capital Management LLC purchased a new position in BEST Inc. (NYSE:BEST) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 32,409 shares of the company’s stock, valued at approximately $71,000. Deuterium Capital Management LLC owned about 0.16% of BEST as of its most recent SEC filing. Institutional investors and hedge funds own 5.09% of the company’s stock.

BEST Company Profile

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.