MINISO Group (NYSE:MNSO) Sees Large Volume Increase – Time to Buy?

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO) shares saw unusually-strong trading volume on Monday . Approximately 726,454 shares were traded during trading, an increase of 37% from the previous session’s volume of 531,940 shares.The stock last traded at $19.0950 and had previously closed at $18.91.

Analyst Ratings Changes

A number of brokerages recently commented on MNSO. Deutsche Bank Aktiengesellschaft initiated coverage on MINISO Group in a research report on Tuesday, November 25th. They set a “buy” rating and a $23.00 price objective on the stock. Zacks Research upgraded MINISO Group from a “strong sell” rating to a “hold” rating in a report on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MINISO Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, MINISO Group has a consensus rating of “Moderate Buy” and an average target price of $25.13.

MINISO Group Trading Up 0.9%

The business’s 50-day simple moving average is $19.44 and its two-hundred day simple moving average is $21.09. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.33 and a beta of 0.13. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.73.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of MINISO Group in the 3rd quarter valued at $25,000. PNC Financial Services Group Inc. increased its stake in MINISO Group by 141.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,933 shares of the company’s stock worth $35,000 after purchasing an additional 1,131 shares during the period. Hantz Financial Services Inc. increased its stake in MINISO Group by 3,465.0% during the second quarter. Hantz Financial Services Inc. now owns 2,139 shares of the company’s stock worth $39,000 after purchasing an additional 2,079 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of MINISO Group by 37.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock worth $41,000 after purchasing an additional 608 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of MINISO Group in the fourth quarter valued at approximately $199,000. 17.16% of the stock is currently owned by hedge funds and other institutional investors.

MINISO Group Company Profile

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.