MINISO Group (NYSE:MNSO) Stock Price Up 5.8% – Here’s What Happened

MINISO Group Holding Limited (NYSE:MNSO)’s share price rose 5.8% during mid-day trading on Tuesday . The stock traded as high as $25.49 and last traded at $25.47. Approximately 859,225 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 2,186,123 shares. The stock had previously closed at $24.07.

Analyst Upgrades and Downgrades

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

MINISO Group Stock Down 1.7 %

The firm has a market capitalization of $7.85 billion, a P/E ratio of 22.49, a PEG ratio of 1.05 and a beta of 0.08. The firm’s 50 day moving average is $21.69 and its two-hundred day moving average is $18.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.14 and a quick ratio of 1.66.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MNSO. Point72 Hong Kong Ltd lifted its holdings in shares of MINISO Group by 89.1% during the second quarter. Point72 Hong Kong Ltd now owns 1,707,749 shares of the company’s stock worth $32,567,000 after buying an additional 804,706 shares in the last quarter. LMR Partners LLP bought a new position in MINISO Group in the 3rd quarter valued at approximately $11,384,000. Seven Eight Capital LP bought a new stake in MINISO Group during the 2nd quarter worth approximately $607,000. Point72 Asset Management L.P. increased its holdings in MINISO Group by 138.1% in the second quarter. Point72 Asset Management L.P. now owns 1,113,200 shares of the company’s stock valued at $21,229,000 after purchasing an additional 645,722 shares during the period. Finally, Beck Bode LLC bought a new position in MINISO Group during the 2nd quarter worth $1,236,000. 17.16% of the stock is currently owned by 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.