MINISO Group (NYSE:MNSO) Trading 6.2% Higher – Here’s What Happened

MINISO Group Holding Limited (NYSE:MNSO) traded up 6.2% during mid-day trading on Wednesday . The company traded as high as $21.34 and last traded at $21.16. 389,534 shares were traded during mid-day trading, a decline of 64% from the average session volume of 1,068,576 shares. The stock had previously closed at $19.92.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MNSO shares. Hsbc Global Res upgraded shares of MINISO Group to a “strong-buy” rating in a research report on Wednesday, February 26th. HSBC assumed coverage on MINISO Group in a report on Wednesday, February 26th. They set a “buy” rating and a $29.30 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, MINISO Group currently has an average rating of “Moderate Buy” and a consensus price target of $23.70.

MINISO Group Price Performance

The business’s fifty day simple moving average is $22.36 and its 200 day simple moving average is $20.24. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.80 and a beta of 0.10. 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 Trading of MINISO Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vise Technologies Inc. purchased a new position in MINISO Group during the fourth quarter worth about $366,000. Vident Advisory LLC boosted its stake in shares of MINISO Group by 34.4% in the 4th quarter. Vident Advisory LLC now owns 21,559 shares of the company’s stock worth $515,000 after buying an additional 5,523 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of MINISO Group during the fourth quarter valued at approximately $237,000. Two Sigma Investments LP purchased a new position in MINISO Group in the fourth quarter worth $1,514,000. Finally, Tairen Capital Ltd increased its position in shares of MINISO Group by 211.7% during the 4th quarter. Tairen Capital Ltd now owns 218,170 shares of the company’s stock valued at $5,212,000 after purchasing an additional 148,170 shares during the last quarter. 17.16% of the stock is owned by 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.