MINISO Group (NYSE:MNSO) Stock Price Down 3.9% - Here's Why

MINISO Group Holding Limited (NYSE:MNSO - Get Free Report) dropped 3.9% during mid-day trading on Thursday . The company traded as low as $22.08 and last traded at $22.26. Approximately 472,614 shares were traded during trading, a decline of 65% from the average daily volume of 1,332,673 shares. The stock had previously closed at $23.17.

Wall Street Analyst Weigh In

Separately, Citigroup started coverage on MINISO Group in a research note on Friday, October 4th. They issued a "buy" rating and a $26.80 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $20.90.

MINISO Group Price Performance

The firm has a market capitalization of $6.92 billion, a P/E ratio of 19.95, a PEG ratio of 0.84 and a beta of 0.08. 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 business's 50-day simple moving average is $22.58 and its 200 day simple moving average is $18.98.

MINISO Group (NYSE:MNSO - Get Free Report) last issued its earnings results on Friday, November 29th. The company reported $0.30 EPS for the quarter. MINISO Group had a net margin of 15.18% and a return on equity of 26.07%. Sell-side analysts forecast that MINISO Group Holding Limited will post 1.19 earnings per share for the current year.

Institutional Trading of MINISO Group

Institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in MINISO Group during the 2nd quarter valued at $26,000. FMR LLC grew its holdings in shares of MINISO Group by 230.2% during the 3rd quarter. FMR LLC now owns 4,137 shares of the company's stock worth $73,000 after acquiring an additional 2,884 shares during the period. Venturi Wealth Management LLC bought a new position in shares of MINISO Group in the 3rd quarter worth approximately $78,000. Blue Trust Inc. lifted its stake in shares of 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 purchasing an additional 3,259 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of MINISO Group during the fourth quarter valued at approximately $163,000. 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.

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