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

MINISO Group Holding Limited (NYSE:MNSO) gapped down before the market opened on Tuesday . The stock had previously closed at $24.71, but opened at $23.44. MINISO Group shares last traded at $23.32, with a volume of 144,967 shares.

Wall Street Analyst Weigh In

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

MINISO Group Stock Performance

The company’s 50-day moving average price is $18.98 and its two-hundred day moving average price is $18.24. The company has a market cap of $7.37 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 1.05 and a beta of 0.14. 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

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of MINISO Group by 1.6% during the third quarter. Geode Capital Management LLC now owns 66,540 shares of the company’s stock worth $1,167,000 after purchasing an additional 1,027 shares during the period. ABS Direct Equity Fund LLC raised its holdings in MINISO Group by 5.1% during the 3rd quarter. ABS Direct Equity Fund LLC now owns 92,941 shares of the company’s stock worth $1,630,000 after buying an additional 4,500 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in MINISO Group during the third quarter valued at about $622,000. XTX Topco Ltd boosted its holdings in shares of MINISO Group by 96.7% in the third quarter. XTX Topco Ltd now owns 27,259 shares of the company’s stock worth $478,000 after buying an additional 13,398 shares during the period. Finally, Quantinno Capital Management LP purchased a new position in shares of MINISO Group in the third quarter worth approximately $191,000. Institutional investors and hedge funds own 17.16% of the company’s stock.

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.