MINISO Group (NYSE:MNSO) Sees Large Volume Increase – Here’s What Happened

MINISO Group Holding Limited (NYSE:MNSO) saw an uptick in trading volume on Friday . 1,823,791 shares were traded during mid-day trading, an increase of 14% from the previous session’s volume of 1,605,891 shares.The stock last traded at $19.06 and had previously closed at $20.79.

Analysts Set New Price Targets

A number of research firms have weighed in on MNSO. HSBC initiated coverage on MINISO Group in a research note on Wednesday, February 26th. They issued a “buy” rating and a $29.30 target price on the stock. Hsbc Global Res upgraded MINISO Group to a “strong-buy” rating in a research note on Wednesday, February 26th. One investment 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.70.

MINISO Group Price Performance

The firm has a 50 day simple moving average of $21.94 and a 200-day simple moving average of $20.42. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. The company has a market cap of $6.03 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 0.80 and a beta of 0.10.

Institutional Investors Weigh In On MINISO Group

Several institutional investors have recently added to or reduced their stakes in the business. Vise Technologies Inc. acquired a new stake in MINISO Group in the fourth quarter worth about $366,000. Vident Advisory LLC lifted its holdings in shares of MINISO Group by 34.4% during the fourth quarter. Vident Advisory LLC now owns 21,559 shares of the company’s stock worth $515,000 after purchasing an additional 5,523 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of MINISO Group during the fourth quarter worth about $237,000. Two Sigma Investments LP acquired a new stake in shares of MINISO Group during the fourth quarter worth about $1,514,000. Finally, Tairen Capital Ltd lifted its holdings in shares of MINISO Group by 211.7% during the fourth quarter. Tairen Capital Ltd now owns 218,170 shares of the company’s stock worth $5,212,000 after purchasing an additional 148,170 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.