MINISO Group (NYSE:MNSO) Shares Gap Down – Should You Sell?

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 traded.

Wall Street Analysts Forecast Growth

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

MINISO Group Price Performance

The company has a 50 day moving average of $19.43 and a two-hundred day moving average of $18.28. The firm has a market cap of $7.58 billion, a P/E ratio of 22.38, a PEG ratio of 1.02 and a beta of 0.14. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of MINISO Group in the second quarter worth about $26,000. Blue Trust Inc. boosted its stake in MINISO Group by 3,098.4% in the 2nd quarter. Blue Trust Inc. now owns 1,951 shares of the company’s stock worth $40,000 after purchasing an additional 1,890 shares during the period. FMR LLC grew its position in MINISO Group by 230.2% during the 3rd quarter. FMR LLC now owns 4,137 shares of the company’s stock worth $73,000 after purchasing an additional 2,884 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in MINISO Group during the 3rd quarter valued at $78,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of MINISO Group in the second quarter valued at $118,000. Institutional investors and hedge funds 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.