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

Shares of MINISO Group Holding Limited (NYSE:MNSO) gapped down prior to trading on Thursday . The stock had previously closed at $20.96, but opened at $19.83. MINISO Group shares last traded at $19.86, with a volume of 131,541 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. HSBC assumed coverage on shares of MINISO Group in a research report on Wednesday, February 26th. They issued a “buy” rating and a $29.30 price target for the company. Hsbc Global Res raised shares of MINISO Group to a “strong-buy” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.70.

MINISO Group Price Performance

The stock’s 50-day moving average is $22.22 and its 200 day moving average is $20.27. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.14 and a quick ratio of 1.66. The company has a market cap of $6.47 billion, a PE ratio of 18.64, a PEG ratio of 0.80 and a beta of 0.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MNSO. Venturi Wealth Management LLC purchased a new position in shares of MINISO Group in the third quarter worth $78,000. LMR Partners LLP purchased a new position in shares of MINISO Group in the third quarter worth $11,384,000. Citigroup Inc. raised its holdings in shares of MINISO Group by 553.7% in the third 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 last quarter. FMR LLC raised its holdings in shares of MINISO Group by 230.2% in the third quarter. FMR LLC now owns 4,137 shares of the company’s stock worth $73,000 after buying an additional 2,884 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in shares of MINISO Group in the third quarter worth $685,000. 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.