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

MINISO Group Holding Limited (NYSE:MNSO) shares gapped down before the market opened on Monday . The stock had previously closed at $27.56, but opened at $26.01. MINISO Group shares last traded at $25.32, with a volume of 788,703 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have commented on MNSO. Jefferies Financial Group reiterated a “hold” rating on shares of MINISO Group in a research note on Monday, September 23rd. Bank of America cut shares of MINISO Group from a “buy” rating to an “underperform” rating in a research note on Monday, September 23rd. Dbs Bank upgraded shares of MINISO Group to a “strong-buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $15.00 price target (down previously from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Finally, Citigroup began coverage on shares of MINISO Group in a research note on Friday, October 4th. They issued a “buy” rating and a $26.80 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, MINISO Group currently has an average rating of “Hold” and a consensus target price of $20.90.

MINISO Group Price Performance

The company has a market capitalization of $7.58 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 1.05 and a beta of 0.08. The company’s 50-day moving average price is $21.37 and its two-hundred day moving average price is $18.57. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.14 and a quick ratio of 1.66.

Hedge Funds Weigh In On MINISO Group

Large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd raised its position in shares of MINISO Group by 89.1% in the second quarter. Point72 Hong Kong Ltd now owns 1,707,749 shares of the company’s stock valued at $32,567,000 after purchasing an additional 804,706 shares during the period. LMR Partners LLP bought a new position in MINISO Group during the third quarter worth about $11,384,000. Seven Eight Capital LP bought a new position in MINISO Group during the second quarter worth about $607,000. Point72 Asset Management L.P. increased its position in MINISO Group by 138.1% during the second quarter. Point72 Asset Management L.P. now owns 1,113,200 shares of the company’s stock worth $21,229,000 after acquiring an additional 645,722 shares during the period. Finally, Beck Bode LLC bought a new position in MINISO Group during the second quarter worth about $1,236,000. 17.16% of the stock is owned by institutional investors.

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.