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

MINISO Group Holding Limited (NYSE:MNSO) 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.

Wall Street Analysts Forecast Growth

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

MINISO Group Trading Down 4.3 %

The company has a 50-day moving average price of $20.64 and a 200-day moving average price of $18.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 1.05 and a beta of 0.14.

Institutional Trading of MINISO Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in MINISO Group during the 2nd quarter worth $26,000. FMR LLC boosted its stake in shares of 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 buying an additional 2,884 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of MINISO Group during the third quarter worth about $78,000. Blue Trust Inc. raised its stake in 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 acquiring an additional 3,259 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in MINISO Group during the 2nd quarter worth approximately $118,000. 17.16% of the stock is owned by hedge funds and other 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.