MINISO Group (NYSE:MNSO) Shares Gap Down – Time to Sell?

MINISO Group Holding Limited (NYSE:MNSO)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $21.79, but opened at $20.96. MINISO Group shares last traded at $21.35, with a volume of 121,782 shares.

Wall Street Analysts Forecast Growth

MNSO has been the subject of several analyst reports. HSBC initiated coverage on shares of MINISO Group in a research report on Wednesday, February 26th. They set a “buy” rating and a $29.30 price target for the company. Hsbc Global Res raised shares of MINISO Group to a “strong-buy” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, MINISO Group has an average rating of “Moderate Buy” and an average price target of $23.70.

MINISO Group Trading Down 9.1 %

The firm has a market capitalization of $5.91 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 0.80 and a beta of 0.10. The company’s 50-day simple moving average is $21.83 and its 200 day simple moving average is $20.44. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On MINISO Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. purchased a new position in shares of MINISO Group in the 4th quarter valued at approximately $31,000. Barclays PLC purchased a new position in shares of MINISO Group in the 4th quarter valued at approximately $36,000. EverSource Wealth Advisors LLC raised its position in shares of MINISO Group by 83.0% in 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 last quarter. FMR LLC raised its position in shares of MINISO Group by 230.2% in the 3rd quarter. FMR LLC now owns 4,137 shares of the company’s stock valued at $73,000 after purchasing an additional 2,884 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of MINISO Group in the 4th quarter valued at approximately $163,000. 17.16% of the stock is owned by hedge funds and other institutional investors.

About MINISO Group

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.