MINISO Group (NYSE:MNSO) Shares Gap Up – Here’s What Happened

Shares of MINISO Group Holding Limited (NYSE:MNSO) gapped up before the market opened on Friday . The stock had previously closed at $19.29, but opened at $19.75. MINISO Group shares last traded at $19.97, with a volume of 86,091 shares traded.

Wall Street Analyst Weigh In

MNSO has been the subject of several research analyst reports. HSBC initiated coverage on shares of MINISO Group in a research report on Wednesday, February 26th. They set a “buy” rating and a $29.30 price target for the company. Hsbc Global Res raised shares of MINISO Group to a “strong-buy” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.70.

MINISO Group Stock Up 2.9 %

The firm’s 50-day moving average price is $22.69 and its 200-day moving average price is $20.15. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 0.80 and a beta of 0.10. 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 Investors Weigh In On MINISO Group

Several large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its stake in shares of MINISO Group by 83.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,618 shares of the company’s stock valued at $39,000 after purchasing an additional 734 shares during the period. Northern Trust Corp boosted its stake in shares of MINISO Group by 3.3% in the fourth quarter. Northern Trust Corp now owns 24,232 shares of the company’s stock valued at $579,000 after purchasing an additional 784 shares during the period. Geode Capital Management LLC boosted its stake in shares of MINISO Group by 1.6% in the third quarter. Geode Capital Management LLC now owns 66,540 shares of the company’s stock valued at $1,167,000 after purchasing an additional 1,027 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of MINISO Group in the fourth quarter valued at $31,000. Finally, Barclays PLC purchased a new position in shares of MINISO Group in the fourth quarter valued at $36,000. Institutional investors and hedge funds 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.