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

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO)’s share price gapped down prior to trading on Friday . The stock had previously closed at $19.59, but opened at $18.85. MINISO Group shares last traded at $18.95, with a volume of 467,721 shares.

Analyst Ratings Changes

A number of research firms recently commented on MNSO. Weiss Ratings reiterated a “buy (b-)” rating on shares of MINISO Group in a report on Wednesday, October 8th. Jefferies Financial Group raised shares of MINISO Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $18.50 to $26.20 in a research note on Friday, August 22nd. Bank of America upgraded shares of MINISO Group from an “underperform” rating to a “neutral” rating in a report on Thursday, August 21st. Finally, Dbs Bank upgraded MINISO Group to a “moderate buy” rating in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.38.

MINISO Group Price Performance

The company has a market cap of $5.98 billion, a PE ratio of 18.04, a PEG ratio of 1.31 and a beta of 0.15. The firm’s 50-day moving average is $22.20 and its 200-day moving average is $20.64. The company has a quick ratio of 1.50, a current ratio of 1.92 and a debt-to-equity ratio of 0.71.

MINISO Group (NYSE:MNSO) last posted its quarterly earnings data on Thursday, August 21st. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($1.52). MINISO Group had a net margin of 12.63% and a return on equity of 22.60%. The firm had revenue of $692.93 million for the quarter, compared to the consensus estimate of $4.85 billion. On average, equities analysts anticipate that MINISO Group Holding Limited Unsponsored ADR will post 1.19 EPS for the current year.

Hedge Funds Weigh In On MINISO Group

Institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in MINISO Group during the third quarter valued at $25,000. Brooklyn Investment Group increased its stake in shares of MINISO Group by 579.4% in the 1st quarter. Brooklyn Investment Group now owns 1,651 shares of the company’s stock worth $31,000 after acquiring an additional 1,408 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in 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 acquiring an additional 1,131 shares during the period. 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 worth $39,000 after acquiring an additional 2,079 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in MINISO Group by 37.6% in 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 during the period. 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.