MINISO Group (NYSE:MNSO) Shares Gap Up – Should You Buy?

MINISO Group Holding Limited (NYSE:MNSO)’s share price gapped up prior to trading on Monday . The stock had previously closed at $20.01, but opened at $23.01. MINISO Group shares last traded at $22.50, with a volume of 2,172,750 shares.

Wall Street Analysts Forecast Growth

MNSO has been the topic of several analyst reports. Dbs Bank upgraded MINISO Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America cut MINISO Group from a “buy” rating to an “underperform” rating in a research report on Monday, September 23rd. Jefferies Financial Group reissued a “hold” rating on shares of MINISO Group in a report on Monday, September 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $15.00 price target (down from $27.00) on shares of MINISO Group in a research report on Tuesday, September 24th. Finally, Citigroup started coverage on shares of MINISO Group in a research report on Friday, October 4th. They set a “buy” rating and a $26.80 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.90.

MINISO Group Trading Up 9.7 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.93 and a current ratio of 2.38. The company has a market capitalization of $7.88 billion, a PE ratio of 22.55, a PEG ratio of 0.94 and a beta of 0.14. The stock has a fifty day moving average of $18.08 and a 200 day moving average of $18.19.

Institutional Trading of MINISO Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. grew its holdings in MINISO Group by 29.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,071 shares of the company’s stock valued at $268,000 after buying an additional 2,982 shares in the last quarter. Tidal Investments LLC bought a new stake in MINISO Group in the first quarter worth $344,000. DekaBank Deutsche Girozentrale raised its stake in MINISO Group by 32.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 19,573 shares of the company’s stock valued at $385,000 after purchasing an additional 4,794 shares in the last quarter. M&G Plc increased its stake in MINISO Group by 129.0% during the second quarter. M&G Plc now owns 1,137,449 shares of the company’s stock worth $21,612,000 after acquiring an additional 640,718 shares during the last quarter. Finally, Deltec Asset Management LLC raised its position in MINISO Group by 9.9% during the second quarter. Deltec Asset Management LLC now owns 31,500 shares of the company’s stock valued at $601,000 after purchasing an additional 2,844 shares during the period. 17.16% of the stock is currently owned by institutional investors.

About MINISO Group

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.