MINISO Group (NYSE:MNSO) Shares Up 6.2% – Time to Buy?

Shares of MINISO Group Holding Limited (NYSE:MNSO) rose 6.2% during trading on Wednesday . The stock traded as high as $21.34 and last traded at $21.16. Approximately 389,534 shares traded hands during trading, a decline of 64% from the average daily volume of 1,068,576 shares. The stock had previously closed at $19.92.

Analysts Set New Price Targets

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

MINISO Group Stock Down 5.9 %

The stock has a 50-day moving average of $22.36 and a 200-day moving average of $20.24. 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 firm has a market cap of $6.16 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 0.80 and a beta of 0.10.

Institutional Investors Weigh In On MINISO Group

Large investors have recently modified their holdings of the business. KEYWISE CAPITAL MANAGEMENT HK Ltd boosted its holdings in shares of MINISO Group by 76.6% during the 4th quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 9,201,950 shares of the company’s stock valued at $219,835,000 after acquiring an additional 3,992,300 shares in the last quarter. HCEP Management Ltd bought a new stake in shares of MINISO Group during the fourth quarter worth about $40,613,000. LMR Partners LLP acquired a new position in shares of MINISO Group in the third quarter valued at approximately $11,384,000. Candriam S.C.A. bought a new position in MINISO Group in the 4th quarter valued at approximately $9,986,000. Finally, Citigroup Inc. boosted its position in MINISO Group by 553.7% during the 3rd quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock worth $6,846,000 after buying an additional 330,579 shares during the period. 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.