MINISO Group (NYSE:MNSO) Trading Up 6.2% – Should You Buy?

MINISO Group Holding Limited (NYSE:MNSO) was up 6.2% on Wednesday . The company traded as high as $21.34 and last traded at $21.16. Approximately 389,534 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 1,068,576 shares. The stock had previously closed at $19.92.

Analyst Ratings Changes

Several research firms have recently issued reports on MNSO. HSBC started coverage on MINISO Group in a report on Wednesday, February 26th. They issued a “buy” rating and a $29.30 target price for the company. Hsbc Global Res upgraded MINISO Group to a “strong-buy” rating in a research note on Wednesday, February 26th. One equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.70.

MINISO Group Price Performance

The company has a current ratio of 2.14, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17. The firm has a market cap of $6.50 billion, a PE ratio of 18.73, a PEG ratio of 0.80 and a beta of 0.10. The business has a fifty day moving average of $22.53 and a 200-day moving average of $20.24.

Hedge Funds Weigh In On MINISO Group

Large investors have recently modified their holdings of the company. LMR Partners LLP purchased a new stake in MINISO Group in the 3rd quarter worth approximately $11,384,000. Nordea Investment Management AB raised its position in shares of MINISO Group by 14.9% in the fourth quarter. Nordea Investment Management AB now owns 333,729 shares of the company’s stock worth $8,020,000 after buying an additional 43,151 shares in the last quarter. Erste Asset Management GmbH bought a new stake in MINISO Group during the third quarter valued at $685,000. Citigroup Inc. grew its position in 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 buying an additional 330,579 shares in the last quarter. Finally, Candriam S.C.A. bought a new position in MINISO Group in the 4th quarter worth about $9,986,000. 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.