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

Shares of MINISO Group Holding Limited (NYSE:MNSO) gapped down prior to trading on Tuesday . The stock had previously closed at $24.81, but opened at $23.71. MINISO Group shares last traded at $23.74, with a volume of 121,251 shares.

Analyst Upgrades and Downgrades

MNSO has been the subject of a number of analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $15.00 target price (down from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Citigroup started coverage on MINISO Group in a research note on Friday, October 4th. They issued a “buy” rating and a $26.80 price objective on the stock. Jefferies Financial Group restated a “hold” rating on shares of MINISO Group in a research report on Monday, September 23rd. Bank of America cut MINISO Group from a “buy” rating to an “underperform” rating in a report on Monday, September 23rd. Finally, Dbs Bank upgraded shares of MINISO Group to a “strong-buy” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.90.

MINISO Group Price Performance

The stock has a 50-day simple moving average of $19.64 and a 200 day simple moving average of $18.33. The stock has a market capitalization of $7.42 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 1.02 and a beta of 0.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale increased its holdings in MINISO Group by 3.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 19,573 shares of the company’s stock valued at $378,000 after purchasing an additional 690 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in MINISO Group by 9.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,249 shares of the company’s stock worth $215,000 after acquiring an additional 942 shares during the last quarter. Geode Capital Management LLC grew its holdings in MINISO Group by 1.6% during the third quarter. Geode Capital Management LLC now owns 66,540 shares of the company’s stock valued at $1,167,000 after purchasing an additional 1,027 shares during the period. XTX Topco Ltd increased its stake in MINISO Group by 10.6% in the second quarter. XTX Topco Ltd now owns 13,861 shares of the company’s stock valued at $264,000 after purchasing an additional 1,326 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in MINISO Group in the second quarter worth $26,000. 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.