MINISO Group (NYSE:MNSO) Shares Gap Up - Here's Why

MINISO Group Holding Limited (NYSE:MNSO - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $23.34, but opened at $23.94. MINISO Group shares last traded at $23.80, with a volume of 164,212 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. restated a "neutral" rating and set a $15.00 price target (down from $27.00) on shares of MINISO Group in a research report on Tuesday, September 24th. Jefferies Financial Group restated 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. Bank of America lowered MINISO Group from a "buy" rating to an "underperform" rating in a report on Monday, September 23rd. Finally, 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. 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 company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $20.90.

MINISO Group Stock Up 3.4 %

The business's 50 day simple moving average is $19.84 and its 200 day simple moving average is $18.31. The company has a market capitalization of $7.60 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.05 and a beta of 0.14. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17.

Institutional Investors Weigh In On MINISO Group

Several hedge funds have recently bought and sold shares of MNSO. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of MINISO Group in the 2nd quarter valued at $26,000. FMR LLC lifted its position in shares of MINISO Group by 230.2% in 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 last quarter. Venturi Wealth Management LLC bought a new stake in shares of MINISO Group during the 3rd quarter worth about $78,000. Blue Trust Inc. increased its holdings in shares of MINISO Group by 167.0% during the 3rd quarter. Blue Trust Inc. now owns 5,210 shares of the company's stock valued at $99,000 after acquiring an additional 3,259 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of MINISO Group in the 2nd quarter valued at approximately $118,000. 17.16% of the stock is owned by hedge funds and other 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.