MINISO Group (NYSE:MNSO) Shares Gap Up – Should You Buy?

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO) shares gapped up before the market opened on Thursday . The stock had previously closed at $18.38, but opened at $19.42. MINISO Group shares last traded at $19.1210, with a volume of 257,599 shares trading hands.

Analyst Ratings Changes

Several research firms recently weighed in on MNSO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MINISO Group in a research note on Monday, December 29th. Zacks Research downgraded MINISO Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on MINISO Group in a report on Tuesday, November 25th. They set a “buy” rating and a $23.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.13.

MINISO Group Stock Performance

The business has a fifty day moving average price of $19.47 and a 200-day moving average price of $21.04. The stock has a market capitalization of $5.89 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.31 and a beta of 0.13. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.73.

Hedge Funds Weigh In On MINISO Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in MINISO Group in the third quarter worth approximately $25,000. PNC Financial Services Group Inc. boosted its holdings in shares of MINISO Group by 141.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,933 shares of the company’s stock valued at $35,000 after purchasing an additional 1,131 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in MINISO Group by 3,465.0% during the second quarter. Hantz Financial Services Inc. now owns 2,139 shares of the company’s stock valued at $39,000 after buying an additional 2,079 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in MINISO Group by 37.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock worth $41,000 after acquiring an additional 608 shares during the last quarter. Finally, GFG Capital LLC bought a new position in shares of MINISO Group during the 2nd quarter valued at approximately $58,000. 17.16% of the stock is currently owned by hedge funds and other institutional investors.

MINISO Group Company Profile

MINISO Group (NYSE: MNSO) is a global retailer specializing in lifestyle and consumer goods. Since its founding in 2013, the company has focused on offering affordable, design-driven products across a broad range of categories. MINISO’s stores feature a clean, minimalist layout and emphasize a “fast fashion” inventory model designed to turn over goods quickly and respond to emerging trends.

The company’s product mix spans household items, kitchenware, cosmetics and personal care, stationery, toys, digital accessories, apparel and seasonal items.