MINISO Group (NYSE:MNSO) Stock Price Up 8% – What’s Next?

Shares of MINISO Group Holding Limited (NYSE:MNSO) traded up 8% on Wednesday . The company traded as high as $19.03 and last traded at $18.80. 291,770 shares traded hands during trading, a decline of 84% from the average session volume of 1,834,471 shares. The stock had previously closed at $17.40.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MNSO shares. Citigroup started coverage on shares of MINISO Group in a report on Friday, October 4th. They issued a “buy” rating and a $26.80 target price for the company. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 target price (down previously from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Bank of America lowered MINISO Group from a “buy” rating to an “underperform” rating in a research note on Monday, September 23rd. Dbs Bank upgraded MINISO Group to a “strong-buy” rating in a research report 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, MINISO Group currently has an average rating of “Hold” and an average target price of $20.90.

MINISO Group Stock Performance

The company has a market capitalization of $5.82 billion, a P/E ratio of 17.12, a P/E/G ratio of 0.69 and a beta of 0.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.93 and a current ratio of 2.38. The business’s fifty day simple moving average is $17.79 and its 200-day simple moving average is $18.32.

MINISO Group (NYSE:MNSO) last issued its earnings results on Friday, August 30th. The company reported $0.26 earnings per share (EPS) for the quarter. MINISO Group had a return on equity of 26.41% and a net margin of 15.72%. The firm had revenue of $555.26 million for the quarter, compared to analysts’ expectations of $557.54 million. As a group, equities analysts anticipate that MINISO Group Holding Limited will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of MINISO Group

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