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

MINISO Group Holding Limited (NYSE:MNSO)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $21.79, but opened at $20.96. MINISO Group shares last traded at $21.35, with a volume of 121,782 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MNSO shares. Hsbc Global Res raised MINISO Group to a “strong-buy” rating in a research note on Wednesday, February 26th. HSBC started coverage on MINISO Group in a research report on Wednesday, February 26th. They issued a “buy” rating and a $29.30 price objective on the stock. One 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.com, MINISO Group has a consensus rating of “Moderate Buy” and a consensus price target of $23.70.

MINISO Group Price Performance

The company has a market cap of $6.53 billion, a PE ratio of 18.82, a PEG ratio of 0.80 and a beta of 0.10. The firm’s 50-day moving average is $22.02 and its 200-day moving average is $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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. KEYWISE CAPITAL MANAGEMENT HK Ltd lifted its stake in shares of MINISO Group by 76.6% in 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 purchasing an additional 3,992,300 shares during the period. HCEP Management Ltd purchased a new position in MINISO Group during the fourth quarter valued at $40,613,000. Candriam S.C.A. bought a new stake in shares of MINISO Group during the 4th quarter valued at $9,986,000. Citigroup Inc. grew its position in shares of MINISO Group by 553.7% in 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. Finally, BNP Paribas Financial Markets bought a new position in shares of MINISO Group in the 4th quarter worth about $3,780,000. 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.