MINISO Group (NYSE:MNSO) Sets New 52-Week High – Time to Buy?

MINISO Group Holding Limited (NYSE:MNSO) shares hit a new 52-week high on Friday . The stock traded as high as $27.34 and last traded at $27.26, with a volume of 333530 shares traded. The stock had previously closed at $25.21.

Wall Street Analyst Weigh In

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

MINISO Group Trading Up 8.4 %

The company has a 50 day moving average of $21.17 and a two-hundred day moving average of $18.55. The stock has a market capitalization of $8.60 billion, a PE ratio of 24.61, a P/E/G ratio of 1.05 and a beta of 0.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of MINISO Group in the second quarter valued at about $26,000. FMR LLC increased its holdings in MINISO Group by 230.2% in the 3rd 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 period. Venturi Wealth Management LLC purchased a new position in MINISO Group during the 3rd quarter worth approximately $78,000. Blue Trust Inc. lifted its stake in MINISO Group by 167.0% during the 3rd quarter. Blue Trust Inc. now owns 5,210 shares of the company’s stock valued at $99,000 after acquiring an additional 3,259 shares during the period. Finally, Quantinno Capital Management LP purchased a new stake in shares of MINISO Group in the 3rd quarter valued at $191,000. Institutional investors and hedge funds 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.