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

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO) shares gapped down prior to trading on Monday . The stock had previously closed at $19.84, but opened at $19.22. MINISO Group shares last traded at $19.24, with a volume of 81,061 shares.

Wall Street Analysts Forecast Growth

MNSO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of MINISO Group in a report on Tuesday, November 25th. They issued a “buy” rating and a $23.00 price objective for the company. Zacks Research lowered MINISO Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MINISO Group in a report on Monday, December 29th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MINISO Group currently has a consensus rating of “Moderate Buy” and an average target price of $25.13.

MINISO Group Trading Up 0.7%

The stock’s 50 day moving average price is $19.55 and its 200-day moving average price is $21.02. The stock has a market capitalization of $5.85 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.32 and a beta of 0.09. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.73.

Institutional Investors Weigh In On MINISO Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB boosted its holdings in MINISO Group by 5.7% during the second quarter. Nordea Investment Management AB now owns 397,322 shares of the company’s stock worth $7,215,000 after buying an additional 21,299 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of MINISO Group by 131.1% in the second quarter. Marshall Wace LLP now owns 1,776,960 shares of the company’s stock worth $32,376,000 after acquiring an additional 1,008,048 shares during the last quarter. Serenity Capital Management PTE. LTD. lifted its stake in shares of MINISO Group by 149.8% in the second quarter. Serenity Capital Management PTE. LTD. now owns 1,157,662 shares of the company’s stock worth $21,093,000 after buying an additional 694,212 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of MINISO Group by 12,244.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 41,972 shares of the company’s stock worth $765,000 after purchasing an additional 41,632 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in MINISO Group during the second quarter worth $326,000. 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.