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

Shares of MINISO Group Holding Limited (NYSE:MNSO) gapped down prior to trading on Wednesday . The stock had previously closed at $25.02, but opened at $24.26. MINISO Group shares last traded at $23.53, with a volume of 687,251 shares.

Analyst Ratings Changes

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

MINISO Group Price Performance

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 firm has a market cap of $7.49 billion, a P/E ratio of 21.28, a P/E/G ratio of 0.94 and a beta of 0.14. The company has a 50-day moving average of $18.08 and a 200 day moving average of $18.19.

Hedge Funds Weigh In On MINISO Group

Several hedge funds and other institutional investors have recently modified their holdings of MNSO. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of MINISO Group during the 2nd quarter worth approximately $26,000. Blue Trust Inc. raised its position in MINISO Group by 3,098.4% in the 2nd quarter. Blue Trust Inc. now owns 1,951 shares of the company’s stock valued at $40,000 after purchasing an additional 1,890 shares during the last quarter. FMR LLC raised its position in MINISO Group by 230.2% in the 3rd quarter. FMR LLC now owns 4,137 shares of the company’s stock valued at $73,000 after purchasing an additional 2,884 shares during the last quarter. Venturi Wealth Management LLC bought a new position in MINISO Group in the 3rd quarter valued at $78,000. Finally, Banque Cantonale Vaudoise bought a new position in MINISO Group in the 2nd quarter valued at $118,000. 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.