MINISO Group (NYSE:MNSO) Shares Gap Down - Should You Sell?

Shares of MINISO Group Holding Limited (NYSE:MNSO - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $24.81, but opened at $23.71. MINISO Group shares last traded at $23.74, with a volume of 121,251 shares.

Analyst Ratings Changes

MNSO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. restated a "neutral" rating and issued a $15.00 target price (down previously from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Jefferies Financial Group reaffirmed a "hold" rating on shares of MINISO Group in a report on Monday, September 23rd. Citigroup started coverage on shares of MINISO Group in a report on Friday, October 4th. They issued a "buy" rating and a $26.80 price target on the stock. Dbs Bank upgraded shares of MINISO Group to a "strong-buy" rating in a research note on Tuesday, September 24th. Finally, Bank of America lowered shares of MINISO Group from a "buy" rating to an "underperform" rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $20.90.

MINISO Group Price Performance

The firm has a market capitalization of $7.61 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 1.02 and a beta of 0.14. The stock's 50 day simple moving average is $19.43 and its two-hundred day simple moving average is $18.28. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14.

Hedge Funds Weigh In On MINISO Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of MINISO Group in the 2nd quarter valued at $26,000. Blue Trust Inc. lifted its position in MINISO Group by 3,098.4% in the second quarter. Blue Trust Inc. now owns 1,951 shares of the company's stock valued at $40,000 after buying an additional 1,890 shares during the last quarter. FMR LLC boosted its stake 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 buying an additional 2,884 shares during the period. Venturi Wealth Management LLC purchased a new position in MINISO Group during the third quarter worth about $78,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of MINISO Group during the second quarter valued at about $118,000. 17.16% of the stock is currently owned by institutional investors and hedge funds.

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.