MINISO Group (NYSE:MNSO) Shares Gap Up – Here’s Why

MINISO Group Holding Limited (NYSE:MNSO) shares gapped up prior to trading on Monday . The stock had previously closed at $23.34, but opened at $23.94. MINISO Group shares last traded at $23.80, with a volume of 164,212 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MNSO. Citigroup assumed coverage on shares of MINISO Group in a report on Friday, October 4th. They set a “buy” rating and a $26.80 price target on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $15.00 target price (down from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Bank of America cut MINISO Group from a “buy” rating to an “underperform” rating in a research report on Monday, September 23rd. Jefferies Financial Group reissued a “hold” rating on shares of MINISO Group in a research report on Monday, September 23rd. Finally, Dbs Bank upgraded MINISO Group to a “strong-buy” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.90.

MINISO Group Stock Up 2.8 %

The business’s 50 day simple moving average is $20.12 and its 200-day simple moving average is $18.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14. The company has a market cap of $7.81 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 1.05 and a beta of 0.14.

Institutional Trading of MINISO Group

Institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of MINISO Group during the 2nd quarter worth about $26,000. FMR LLC raised its position in MINISO Group by 230.2% during the third quarter. FMR LLC now owns 4,137 shares of the company’s stock valued at $73,000 after acquiring an additional 2,884 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in MINISO Group in the third quarter worth approximately $78,000. Blue Trust Inc. grew its position in MINISO Group by 167.0% in the third quarter. Blue Trust Inc. now owns 5,210 shares of the company’s stock worth $99,000 after acquiring an additional 3,259 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of MINISO Group during the 2nd quarter worth $118,000. Institutional investors and hedge funds own 17.16% of the company’s stock.

MINISO Group Company Profile

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products and pop toy products in China, Asia, the United States, and Europe. The company offers products in various categories, including home decor products, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances and perfumes, and stationeries and gifts under the MINISO and WonderLife brand names; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, sculptures, and other popular toys under the TOP TOY brand.