MINISO Group (NYSE:MNSO) Shares Gap Down – What’s Next?
by Michael Walen · The Markets DailyMINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO – Get Free Report)’s stock price gapped down before the market opened 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 Analyst Weigh In
MNSO has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of MINISO Group in a research note on Monday, December 29th. Zacks Research lowered MINISO Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on MINISO Group in a report on Tuesday, November 25th. They issued a “buy” rating and a $23.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have given 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.13.
View Our Latest Research Report on MINISO Group
MINISO Group Trading Down 3.8%
The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.73. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 1.40 and a beta of 0.09. The business has a fifty day simple moving average of $19.68 and a 200 day simple moving average of $21.02.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its stake in shares of MINISO Group by 3.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 15,268 shares of the company’s stock worth $344,000 after acquiring an additional 498 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in MINISO Group by 28.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,480 shares of the company’s stock valued at $56,000 after purchasing an additional 547 shares in the last quarter. American Century Companies Inc. raised its holdings in MINISO Group by 0.4% during the second quarter. American Century Companies Inc. now owns 133,224 shares of the company’s stock worth $2,427,000 after purchasing an additional 595 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in MINISO Group by 37.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock worth $41,000 after purchasing an additional 608 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in MINISO Group in the third quarter valued at $25,000. 17.16% of the stock is 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.