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

MINISO Group Holding Limited (NYSE:MNSO)’s stock price gapped up before the market opened 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 trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on MNSO shares. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 target price (down previously from $27.00) on shares of MINISO Group in a research report on Tuesday, September 24th. Bank of America lowered MINISO Group from a “buy” rating to an “underperform” rating in a research note on Monday, September 23rd. Jefferies Financial Group reissued a “hold” rating on shares of MINISO Group in a report on Monday, September 23rd. Dbs Bank raised MINISO Group to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Citigroup started coverage on shares of MINISO Group in a research note on Friday, October 4th. They issued a “buy” rating and a $26.80 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MINISO Group presently has a consensus rating of “Hold” and a consensus target price of $20.90.

MINISO Group Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 2.14 and a quick ratio of 1.66. The company’s 50-day moving average is $19.84 and its 200-day moving average is $18.31. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.05 and a beta of 0.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in MINISO Group during the 2nd quarter worth approximately $26,000. FMR LLC increased its holdings in MINISO Group by 230.2% in the 3rd quarter. FMR LLC now owns 4,137 shares of the company’s stock valued at $73,000 after purchasing an additional 2,884 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of MINISO Group during the third quarter worth about $78,000. Blue Trust Inc. raised its holdings in shares of MINISO Group by 167.0% during the 3rd quarter. Blue Trust Inc. now owns 5,210 shares of the company’s stock valued at $99,000 after buying an additional 3,259 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in MINISO Group during the 2nd quarter worth approximately $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.