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

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $18.38, but opened at $19.42. MINISO Group shares last traded at $19.1210, with a volume of 257,599 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of MINISO Group in a report on Monday, December 29th. Zacks Research downgraded shares of MINISO Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of MINISO Group in a research note on Tuesday, November 25th. They set a “buy” rating and a $23.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MINISO Group presently has an average rating of “Moderate Buy” and a consensus price target of $25.13.

MINISO Group Price Performance

The stock’s 50-day moving average is $19.47 and its 200 day moving average is $21.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.26. The company has a market cap of $5.89 billion, a PE ratio of 19.63, a PEG ratio of 1.31 and a beta of 0.13.

Institutional Investors Weigh In On MINISO Group

Several institutional investors have recently added to or reduced their stakes in MNSO. Caitong International Asset Management Co. Ltd acquired a new position in MINISO Group during the 3rd quarter valued at approximately $25,000. PNC Financial Services Group Inc. boosted its position in MINISO Group by 141.0% in the second quarter. PNC Financial Services Group Inc. now owns 1,933 shares of the company’s stock valued at $35,000 after buying an additional 1,131 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in MINISO Group by 3,465.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,139 shares of the company’s stock worth $39,000 after buying an additional 2,079 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of MINISO Group by 37.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock valued at $41,000 after acquiring an additional 608 shares during the last quarter. Finally, GFG Capital LLC purchased a new position in shares of MINISO Group during the second quarter worth $58,000. Institutional investors and hedge funds own 17.16% of the company’s stock.

About MINISO Group

MINISO Group (NYSE: MNSO) is a global retailer specializing in lifestyle and consumer goods. Since its founding in 2013, the company has focused on offering affordable, design-driven products across a broad range of categories. MINISO’s stores feature a clean, minimalist layout and emphasize a “fast fashion” inventory model designed to turn over goods quickly and respond to emerging trends.

The company’s product mix spans household items, kitchenware, cosmetics and personal care, stationery, toys, digital accessories, apparel and seasonal items.