MINISO Group (NYSE:MNSO) Shares Gap Down – Time to Sell?

MINISO Group Holding Limited (NYSE:MNSO) shares gapped down prior to trading 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.

Analysts Set New Price Targets

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

MINISO Group Trading Down 9.1 %

The stock’s fifty day moving average price is $21.83 and its 200 day moving average price is $20.44. 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 stock has a market capitalization of $5.91 billion, a P/E ratio of 17.03, a PEG ratio of 0.80 and a beta of 0.10.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in MINISO Group during the 4th quarter worth about $31,000. Barclays PLC bought a new position in MINISO Group during the 4th quarter worth about $36,000. EverSource Wealth Advisors LLC grew its holdings in MINISO Group by 83.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,618 shares of the company’s stock worth $39,000 after acquiring an additional 734 shares in the last quarter. FMR LLC grew its holdings in MINISO Group by 230.2% during the 3rd quarter. FMR LLC now owns 4,137 shares of the company’s stock worth $73,000 after acquiring an additional 2,884 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in MINISO Group during the 4th quarter worth about $163,000. 17.16% of the stock is currently owned by institutional investors.

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.