MINISO Group (NYSE:MNSO) Sets New 52-Week High – Here’s Why

MINISO Group Holding Limited (NYSE:MNSO)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $27.34 and last traded at $27.26, with a volume of 333530 shares traded. The stock had previously closed at $25.21.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MNSO. JPMorgan Chase & Co. reissued 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. 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. Citigroup began 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, Bank of America cut shares of MINISO Group from a “buy” rating to an “underperform” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.90.

MINISO Group Stock Up 9.3 %

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 stock has a market cap of $8.67 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 1.05 and a beta of 0.14. The business has a fifty day moving average of $21.37 and a 200 day moving average of $18.58.

Institutional Inflows and Outflows

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