MINISO Group (NYSE:MNSO) Reaches New 12-Month High - What's Next?

MINISO Group Holding Limited (NYSE:MNSO - Get Free Report)'s share price 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 trading hands. The stock had previously closed at $25.21.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MNSO shares. Bank of America downgraded MINISO Group from a "buy" rating to an "underperform" rating in a report on Monday, September 23rd. 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 research report on Monday, September 23rd. Dbs Bank upgraded MINISO Group to a "strong-buy" rating in a research report on Tuesday, September 24th. Finally, Citigroup initiated coverage on MINISO Group in a research report on Friday, October 4th. They issued a "buy" rating and a $26.80 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $20.90.

MINISO Group Stock Performance

The stock has a fifty day moving average price of $21.17 and a two-hundred day moving average price of $18.55. 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 $8.67 billion, a P/E ratio of 24.83, a PEG ratio of 1.05 and a beta of 0.14.

Hedge Funds Weigh In On MINISO Group

A number of institutional investors and hedge funds have recently bought and sold shares of MNSO. Point72 Hong Kong Ltd boosted its holdings in shares of MINISO Group by 89.1% in the second quarter. Point72 Hong Kong Ltd now owns 1,707,749 shares of the company's stock valued at $32,567,000 after acquiring an additional 804,706 shares in the last quarter. LMR Partners LLP bought a new position in MINISO Group during the third quarter valued at about $11,384,000. Seven Eight Capital LP acquired a new position in MINISO Group during the second quarter worth about $607,000. Point72 Asset Management L.P. raised its position in MINISO Group by 138.1% in the second quarter. Point72 Asset Management L.P. now owns 1,113,200 shares of the company's stock worth $21,229,000 after acquiring an additional 645,722 shares in the last quarter. Finally, Beck Bode LLC acquired a new stake in MINISO Group in the 2nd quarter valued at about $1,236,000. 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.