BEST Inc’s Quiet Period To Expire on October 30th (NASDAQ:BSTI)
BEST’s (NASDAQ:BSTI) quiet period is set to expire on Monday, October 30th. BEST had issued 45,000,000 shares in its public offering 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, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of research analysts recently weighed in on the stock. J P Morgan Chase & Co assumed coverage on shares of BEST in a report on Tuesday, October 17th. They issued an “overweight” rating for the company. Credit Suisse Group assumed coverage on shares of BEST in a report on Monday, October 16th. They issued an “outperform” rating for the company. KeyCorp assumed coverage on shares of BEST in a report on Monday, October 16th. They issued an “overweight” rating and a $16.00 price objective for the company. Deutsche Bank AG assumed coverage on shares of BEST in a report on Monday, October 16th. They issued a “buy” rating for the company. Finally, Stifel Nicolaus assumed coverage on shares of BEST in a report on Monday, October 16th. They issued a “buy” rating and a $16.00 price objective 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 an average target price of $16.20.
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BEST (NASDAQ BSTI) opened at 11.20 on Monday. The company has a 50 day moving average of $11.41 and a 200-day moving average of $11.41. The firm’s market cap is $2.54 billion. BEST has a one year low of $10.31 and a one year high of $13.25.
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.
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