MINISO Group (NYSE:MNSO) Shares Up 5.8% – Time to Buy?

Shares of MINISO Group Holding Limited (NYSE:MNSO) shot up 5.8% during mid-day trading on Tuesday . The company traded as high as $25.49 and last traded at $25.47. 859,225 shares were traded during mid-day trading, a decline of 61% from the average session volume of 2,186,123 shares. The stock had previously closed at $24.07.

Analyst Upgrades and Downgrades

MNSO has been the topic of several recent analyst reports. Dbs Bank raised shares of MINISO Group to a “strong-buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $15.00 price objective (down previously from $27.00) on shares of MINISO Group in a research report on Tuesday, September 24th. Bank of America downgraded MINISO Group from a “buy” rating to an “underperform” rating in a research note on Monday, September 23rd. Citigroup assumed coverage on shares of MINISO Group in a research report on Friday, October 4th. They issued a “buy” rating and a $26.80 target price for the company. Finally, Jefferies Financial Group restated a “hold” rating on shares of MINISO Group in a research note on Monday, September 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MINISO Group currently has an average rating of “Hold” and an average price target of $20.90.

MINISO Group Stock Down 1.7 %

The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 1.05 and a beta of 0.08. The business has a fifty day moving average of $21.69 and a 200 day moving average of $18.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.14 and a quick ratio of 1.66.

Institutional Trading of MINISO Group

Large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of MINISO Group during the second quarter worth $26,000. FMR LLC raised its stake in shares of MINISO Group by 230.2% in the third quarter. FMR LLC now owns 4,137 shares of the company’s stock worth $73,000 after acquiring an additional 2,884 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of MINISO Group during the third quarter valued at approximately $78,000. Blue Trust Inc. increased its holdings in shares of MINISO Group by 167.0% in the third quarter. Blue Trust Inc. now owns 5,210 shares of the company’s stock valued at $99,000 after purchasing an additional 3,259 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new position in MINISO Group in the 3rd quarter worth approximately $191,000. 17.16% of the stock is currently owned by institutional investors.

About MINISO Group

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.