MINISO Group (NYSE:MNSO) Trading Up 5.8% - Time to Buy?

Shares of MINISO Group Holding Limited (NYSE:MNSO - Get Free Report) shot up 5.8% on Tuesday . The stock traded as high as $25.49 and last traded at $25.47. 859,225 shares changed hands during trading, a decline of 61% from the average session volume of 2,186,123 shares. The stock had previously closed at $24.07.

Analyst Upgrades and Downgrades

MNSO has been the subject of several recent analyst reports. Dbs Bank upgraded MINISO Group to a "strong-buy" rating in a report on Tuesday, September 24th. Citigroup began 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. Bank of America downgraded shares of MINISO Group from a "buy" rating to an "underperform" rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $15.00 price objective (down from $27.00) on shares of MINISO Group in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of MINISO Group in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, two have given 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.com, the company presently has a consensus rating of "Hold" and an average target price of $20.90.

MINISO Group Stock Up 5.8 %

The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 1.05 and a beta of 0.08. The firm has a 50-day moving average of $21.47 and a 200 day moving average of $18.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.14 and a quick ratio of 1.66.

Institutional Investors Weigh In On MINISO Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of MINISO Group by 14.9% during the 4th quarter. Nordea Investment Management AB now owns 333,729 shares of the company's stock worth $8,020,000 after purchasing an additional 43,151 shares in the last quarter. Geode Capital Management LLC lifted its position in MINISO Group by 1.6% during the third quarter. Geode Capital Management LLC now owns 66,540 shares of the company's stock worth $1,167,000 after purchasing an additional 1,027 shares during the period. ABS Direct Equity Fund LLC grew its stake in MINISO Group by 5.1% during the third quarter. ABS Direct Equity Fund LLC now owns 92,941 shares of the company's stock worth $1,630,000 after buying an additional 4,500 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in MINISO Group in the 3rd quarter valued at about $622,000. Finally, XTX Topco Ltd raised its position in shares of MINISO Group by 96.7% in the 3rd quarter. XTX Topco Ltd now owns 27,259 shares of the company's stock valued at $478,000 after buying an additional 13,398 shares in the last quarter. Institutional investors and hedge funds 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.