MINISO Group (NYSE:MNSO) Shares Gap Up – Time to Buy?

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO) shares gapped up before the market opened on Tuesday . The stock had previously closed at $15.35, but opened at $16.45. MINISO Group shares last traded at $16.10, with a volume of 173,231 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MNSO. Zacks Research upgraded MINISO Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of MINISO Group in a research report on Friday. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.60.

MINISO Group Stock Up 5.4%

The company’s 50 day moving average price is $18.11 and its two-hundred day moving average price is $19.98. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73. The firm has a market cap of $5.01 billion, a PE ratio of 16.72 and a beta of 0.16.

Institutional Trading of MINISO Group

Hedge funds have recently bought and sold shares of the stock. WFM ASIA BVI Ltd bought a new position in shares of MINISO Group in the third quarter worth about $35,624,000. Marshall Wace LLP grew its stake in shares of MINISO Group by 131.1% during the 2nd quarter. Marshall Wace LLP now owns 1,776,960 shares of the company’s stock valued at $32,376,000 after acquiring an additional 1,008,048 shares during the period. Serenity Capital Management PTE. LTD. increased its holdings in MINISO Group by 74.9% in the 4th quarter. Serenity Capital Management PTE. LTD. now owns 2,024,455 shares of the company’s stock worth $37,959,000 after acquiring an additional 866,793 shares in the last quarter. Millennium Management LLC increased its holdings in MINISO Group by 167.5% in the 3rd quarter. Millennium Management LLC now owns 971,884 shares of the company’s stock worth $21,867,000 after acquiring an additional 608,544 shares in the last quarter. Finally, Tiger Pacific Capital LP bought a new stake in MINISO Group during the 3rd quarter worth approximately $6,300,000. Institutional investors own 17.16% of the company’s stock.

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.