The stock of BEST Inc. (NYSE:BEST) is now priced at $4.22 and the shares are 0.22 points up or 5.5% higher compared to its previous closing price of $4. The stock had 1.568 million contracts set over the past session. BEST shares’ daily volume is compared to its average trading volume at 1.311 million shares. However, it has a float of 201 million and although its performance was 1.69% over the week, it’s one to watch. Analysts have given the BEST stock a yearly average price target of $5.42 per share. It means the stock’s upside potential is 28.44% with the BEST share price recently placing at $4 to $4.26. However, some brokerage firms have priced the stock below the average, including one that has called $¥22.05.
The shorts are running away from the BEST Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the BEST shares have declined. Short interest in the stock represents just 5.66% of its float, but the volume has dropped by 0.
In the last trading session, BEST Inc. (NYSE:BEST) raised by $0.07 over the week and lost -$0.37 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.54. The stock recorded its established 52-week high on 01/21/20.
Since 09/01/20, the stock has traded to a low of $4 at 5.5%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, BEST Inc.’s two-week RSI is 45.95. This suggests that the stock is neutral at the moment and that BEST shares’ price movement remains stable. The stochastic readings are equally revealing at 31.54% meaning the BEST share price is currently in neutral territory.
The technical chart shows that the BEST stock will likely settle at between $4.32 and $4.42 per share. However, if the stock dips below $4.06, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.9.
Currently, the stock is trading in the red of MACD, with a reading of -0.03. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Macquarie cut their recommendation for BEST from Outperform to Neutral in May 15 review. Oppenheimer analysts see the stock as a Outperform with a target price of $6 in a flash note released to investors on March 02 resuming covering the stock. Jefferies analysts see the stock as Buy when the analysts initiated the share price coverage on December 05.
The average rating for the BEST equity is 2.1 and is currently gathering a bullish momentum. Of 10 analysts tracking BEST Inc. polled by Reuters, 2 rated BEST as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the BEST stock price is 5.55X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 47.2. BEST Inc. has its P/E ratio at 3.6, which means that the stock is currently trading at a premium relative to the 3.2 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for BEST Inc. (NYSE:BEST) will increase by about 12.79%, which will see them reach $1340 million. The company’s full-year revenues are, however, expected to increase by about 1.19%, up from $5030 million to $5090 million. BEST’s expected adjusted earnings should drop almost -100% to end up at $0 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 500% to record -$0.24/share.