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

MINISO Group Holding Limited (NYSE:MNSO) shares 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 changing hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on MNSO. Hsbc Global Res upgraded MINISO Group to a “strong-buy” rating in a research report on Wednesday, February 26th. HSBC began coverage on MINISO Group in a report on Wednesday, February 26th. They set a “buy” rating and a $29.30 price objective for the company. One research 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.70.

MINISO Group Stock Down 4.1 %

The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. The stock has a 50-day simple moving average of $22.02 and a two-hundred day simple moving average of $20.42. The firm has a market cap of $6.53 billion, a PE ratio of 18.82, a P/E/G ratio of 0.80 and a beta of 0.10.

Institutional Trading of MINISO Group

A number of hedge funds have recently bought and sold shares of MNSO. Citigroup Inc. raised its stake in shares of MINISO Group by 553.7% during the third quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock worth $6,846,000 after acquiring an additional 330,579 shares in the last quarter. FMR LLC raised its position in MINISO Group by 230.2% in 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 during the period. Erste Asset Management GmbH purchased a new position in MINISO Group in the 3rd quarter worth $685,000. Centiva Capital LP purchased a new stake in MINISO Group during the third quarter valued at about $255,000. Finally, Quantinno Capital Management LP bought a new position in shares of MINISO Group during the third quarter valued at about $191,000. 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.