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

Shares of MINISO Group Holding Limited (NYSE:MNSO) gapped down before the market opened on Thursday . The stock had previously closed at $20.96, but opened at $19.83. MINISO Group shares last traded at $19.86, with a volume of 131,541 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Hsbc Global Res raised shares of MINISO Group to a “strong-buy” rating in a report on Wednesday, February 26th. HSBC began coverage on MINISO Group in a research note on Wednesday, February 26th. They issued a “buy” rating and a $29.30 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.70.

MINISO Group Stock Down 5.7 %

The firm has a 50-day simple moving average of $22.47 and a two-hundred day simple moving average of $20.24. The stock has a market cap of $6.18 billion, a P/E ratio of 17.86, a PEG ratio of 0.80 and a beta of 0.10. The company has a current ratio of 2.14, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in MINISO Group in the 4th quarter worth about $31,000. Barclays PLC bought a new stake in MINISO Group in the 4th quarter worth $36,000. EverSource Wealth Advisors LLC increased its position in MINISO Group by 83.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,618 shares of the company’s stock valued at $39,000 after purchasing an additional 734 shares during the period. FMR LLC lifted its holdings in MINISO Group by 230.2% in the third quarter. FMR LLC now owns 4,137 shares of the company’s stock worth $73,000 after buying an additional 2,884 shares during the period. Finally, Venturi Wealth Management LLC bought a new position in MINISO Group in the third quarter worth $78,000. 17.16% of the stock is owned by institutional investors.

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.