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

MINISO Group Holding Limited (NYSE:MNSO)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $19.72, but opened at $20.70. MINISO Group shares last traded at $20.87, with a volume of 260,628 shares traded.

Wall Street Analyst Weigh In

MNSO has been the subject of a number of analyst reports. HSBC began coverage on MINISO Group in a report on Wednesday, February 26th. They issued a “buy” rating and a $29.30 price target for the company. Hsbc Global Res upgraded shares of MINISO Group to a “strong-buy” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, MINISO Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.70.

MINISO Group Price Performance

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 $6.43 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 0.80 and a beta of 0.10. The firm’s 50 day moving average is $22.36 and its 200 day moving average is $20.24.

Hedge Funds Weigh In On MINISO Group

Several large investors have recently modified their holdings of the stock. Vise Technologies Inc. purchased a new position in MINISO Group in the fourth quarter worth about $366,000. Vident Advisory LLC boosted its holdings in shares of MINISO Group by 34.4% in the fourth quarter. Vident Advisory LLC now owns 21,559 shares of the company’s stock worth $515,000 after buying an additional 5,523 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in MINISO Group during the fourth quarter valued at approximately $237,000. Two Sigma Investments LP bought a new position in MINISO Group in the fourth quarter worth approximately $1,514,000. Finally, Tairen Capital Ltd boosted its stake in shares of MINISO Group by 211.7% during the 4th quarter. Tairen Capital Ltd now owns 218,170 shares of the company’s stock worth $5,212,000 after acquiring an additional 148,170 shares during the last quarter. Hedge funds and other 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.