MINISO Group (NYSE:MNSO) Shares Gap Down - What's Next?

MINISO Group Holding Limited (NYSE:MNSO - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $25.13, but opened at $24.14. MINISO Group shares last traded at $24.21, with a volume of 135,535 shares changing hands.

Analysts Set New Price Targets

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

MINISO Group Stock Performance

The company has a market cap of $7.57 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 1.05 and a beta of 0.14. The stock's fifty day simple moving average is $20.64 and its 200 day simple moving average is $18.46. The company has a current ratio of 2.14, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On MINISO Group

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in MINISO Group during the second quarter worth about $26,000. FMR LLC raised its position in shares of MINISO Group by 230.2% during the 3rd quarter. FMR LLC now owns 4,137 shares of the company's stock valued at $73,000 after buying an additional 2,884 shares during the period. Venturi Wealth Management LLC acquired a new position in MINISO Group in the third quarter valued at approximately $78,000. Blue Trust Inc. grew its position in MINISO Group by 167.0% in the third quarter. Blue Trust Inc. now owns 5,210 shares of the company's stock worth $99,000 after acquiring an additional 3,259 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new stake in MINISO Group during the second quarter worth $118,000. Hedge funds and other 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.