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

MINISO Group Holding Limited (NYSE:MNSO - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $27.56, but opened at $26.01. MINISO Group shares last traded at $25.32, with a volume of 788,703 shares changing hands.

Wall Street Analysts Forecast Growth

MNSO has been the subject of several research analyst reports. Jefferies Financial Group reissued a "hold" rating on shares of MINISO Group in a research report on Monday, September 23rd. Dbs Bank raised MINISO Group to a "strong-buy" rating in a research note on Tuesday, September 24th. Citigroup assumed coverage on shares of MINISO Group in a research report on Friday, October 4th. They set a "buy" rating and a $26.80 price objective for the company. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $15.00 target price (down previously from $27.00) on shares of MINISO Group in a research report on Tuesday, September 24th. 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, MINISO Group currently has an average rating of "Hold" and an average price target of $20.90.

MINISO Group Price Performance

The business has a 50-day moving average price of $21.37 and a two-hundred day moving average price of $18.57. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 1.05 and a beta of 0.08.

Institutional Investors Weigh In On MINISO Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in MINISO Group during the 2nd quarter worth $26,000. FMR LLC boosted its holdings in MINISO Group by 230.2% during the third quarter. FMR LLC now owns 4,137 shares of the company's stock worth $73,000 after purchasing an additional 2,884 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in MINISO Group in the 3rd quarter worth about $78,000. Blue Trust Inc. increased its stake in MINISO Group by 167.0% in the 3rd quarter. Blue Trust Inc. now owns 5,210 shares of the company's stock valued at $99,000 after buying an additional 3,259 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of MINISO Group during the 3rd quarter worth approximately $191,000. Institutional investors and hedge funds own 17.16% of the company's stock.

About MINISO Group

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.