MINISO Group (NYSE:MNSO) Shares Gap Down – What’s Next?

MINISO Group Holding Limited (NYSE:MNSO)’s share price gapped down before the market opened on Friday . The stock had previously closed at $25.13, but opened at $24.14. MINISO Group shares last traded at $24.21, with a volume of 135,535 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on MNSO shares. Bank of America downgraded MINISO Group from a “buy” rating to an “underperform” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 price target (down previously from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Jefferies Financial Group reaffirmed a “hold” rating on shares of MINISO Group in a research note on Monday, September 23rd. Dbs Bank raised shares of MINISO Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Citigroup began coverage on MINISO Group in a research report 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 assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.90.

MINISO Group Trading Down 3.7 %

The company’s fifty day moving average is $20.49 and its 200-day moving average is $18.44. The company has a current ratio of 2.14, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $7.61 billion, a P/E ratio of 21.80, a P/E/G ratio of 1.05 and a beta of 0.14.

Institutional Investors Weigh In On MINISO Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in MINISO Group by 34.6% in the 2nd quarter. Principal Financial Group Inc. now owns 489,831 shares of the company’s stock valued at $9,341,000 after buying an additional 125,831 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of MINISO Group in the second quarter worth $118,000. Van ECK Associates Corp increased its position in MINISO Group by 2.5% during the second quarter. Van ECK Associates Corp now owns 543,074 shares of the company’s stock worth $10,357,000 after acquiring an additional 13,409 shares during the period. National Bank of Canada FI acquired a new position in MINISO Group during the 2nd quarter valued at $5,955,000. Finally, Victory Capital Management Inc. boosted its holdings in MINISO Group by 3.3% in the 2nd quarter. Victory Capital Management Inc. now owns 1,588,191 shares of the company’s stock valued at $30,287,000 after purchasing an additional 50,650 shares during the period. 17.16% of the stock is owned by institutional investors and hedge funds.

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.