MINISO Group (NYSE:MNSO) Shares Gap Up – Here’s Why

MINISO Group Holding Limited (NYSE:MNSO) gapped up prior to trading on Friday . The stock had previously closed at $19.72, but opened at $20.70. MINISO Group shares last traded at $20.87, with a volume of 260,628 shares.

Wall Street Analyst Weigh In

MNSO has been the subject of several recent research reports. Hsbc Global Res upgraded MINISO Group to a “strong-buy” rating in a report on Wednesday, February 26th. HSBC began coverage on shares of MINISO Group in a research note on Wednesday, February 26th. They set a “buy” rating and a $29.30 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MINISO Group has an average rating of “Moderate Buy” and a consensus price target of $23.70.

MINISO Group Stock Up 4.4 %

The stock has a market cap of $6.43 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 0.80 and a beta of 0.10. The business has a 50-day moving average price of $22.36 and a 200-day moving average price of $20.24. The company has a current ratio of 2.14, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17.

Institutional Trading of MINISO Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its stake in MINISO Group by 83.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,618 shares of the company’s stock worth $39,000 after buying an additional 734 shares in the last quarter. Northern Trust Corp lifted its position in shares of MINISO Group by 3.3% in the fourth quarter. Northern Trust Corp now owns 24,232 shares of the company’s stock valued at $579,000 after acquiring an additional 784 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 in the last quarter. SBI Securities Co. Ltd. acquired a new position in MINISO Group in the 4th quarter valued at $31,000. Finally, Barclays PLC purchased a new stake in shares of MINISO Group during the fourth quarter worth $36,000. 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.