MINISO Group (NYSE:MNSO) Trading 5.2% Higher – What’s Next?

MINISO Group Holding Limited (NYSE:MNSO)’s share price rose 5.2% during mid-day trading on Thursday . The stock traded as high as $25.02 and last traded at $24.69. Approximately 468,833 shares traded hands during trading, a decline of 75% from the average daily volume of 1,880,467 shares. The stock had previously closed at $23.47.

Analysts Set New Price Targets

A number of brokerages have weighed in on MNSO. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 price objective (down previously from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Jefferies Financial Group reiterated a “hold” rating on shares of MINISO Group in a report on Monday, September 23rd. Dbs Bank upgraded MINISO Group to a “strong-buy” rating in a research note on Tuesday, September 24th. Citigroup began coverage on shares of MINISO Group in a research note on Friday, October 4th. They set a “buy” rating and a $26.80 target price for the company. Finally, Bank of America downgraded shares of MINISO Group from a “buy” rating to an “underperform” rating in a research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.90.

MINISO Group Stock Performance

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 stock has a market capitalization of $7.57 billion, a P/E ratio of 21.68, a P/E/G ratio of 1.02 and a beta of 0.14. The stock has a 50 day moving average of $19.34 and a 200 day moving average of $18.34.

Institutional Trading of MINISO Group

A number of large investors have recently modified their holdings of MNSO. Point72 Asia Singapore Pte. Ltd. bought a new position in MINISO Group in the 2nd quarter worth about $26,000. Blue Trust Inc. raised its holdings in shares of MINISO Group by 3,098.4% during the second quarter. Blue Trust Inc. now owns 1,951 shares of the company’s stock valued at $40,000 after buying an additional 1,890 shares during the last quarter. FMR LLC boosted its position 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 bought a new position in MINISO Group in the 3rd quarter worth approximately $78,000. Finally, Banque Cantonale Vaudoise acquired a new stake in MINISO Group in the 2nd quarter valued at approximately $118,000. 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.