MINISO Group (NYSE:MNSO) Trading Up 5.8% – What’s Next?

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MNSO shares. Dbs Bank raised MINISO Group to a “strong-buy” rating in a research note on Tuesday, September 24th. 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 downgraded shares of MINISO Group from a “buy” rating to an “underperform” rating in a research report on Monday, September 23rd. Citigroup began coverage on shares of MINISO Group in a report on Friday, October 4th. They issued a “buy” rating and a $26.80 price target for the company. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of MINISO Group in a research report on Monday, September 23rd. 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 issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.90.

MINISO Group Stock Performance

The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. The company has a market cap of $8.01 billion, a PE ratio of 22.93, a PEG ratio of 1.05 and a beta of 0.08. The company has a 50-day moving average of $21.47 and a 200-day moving average of $18.59.

Institutional Investors Weigh In On MINISO Group

A number of hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in MINISO Group in the second quarter valued at approximately $26,000. FMR LLC boosted its position in MINISO Group by 230.2% during the third quarter. FMR LLC now owns 4,137 shares of the company’s stock worth $73,000 after purchasing an additional 2,884 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of MINISO Group in the third quarter worth about $78,000. Blue Trust Inc. raised its position 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 during the period. Finally, Quantinno Capital Management LP purchased a new stake in shares of MINISO Group during the 3rd quarter valued at approximately $191,000. 17.16% of the stock is currently 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.