MINISO Group (NYSE:MNSO) Sets New 1-Year High – What’s Next?

MINISO Group Holding Limited (NYSE:MNSO)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $27.34 and last traded at $27.26, with a volume of 333530 shares traded. The stock had previously closed at $25.21.

Analysts Set New Price Targets

Several brokerages have weighed in on MNSO. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 price objective (down from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Jefferies Financial Group reissued a “hold” rating on shares of MINISO Group in a research report on Monday, September 23rd. Citigroup assumed coverage on shares of MINISO Group in a research report on Friday, October 4th. They issued a “buy” rating and a $26.80 price objective for the company. Bank of America cut shares of MINISO Group from a “buy” rating to an “underperform” rating in a research report on Monday, September 23rd. Finally, Dbs Bank raised MINISO Group to a “strong-buy” rating in a report on Tuesday, September 24th. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.90.

MINISO Group Trading Up 8.4 %

The firm’s 50-day simple moving average is $21.17 and its 200-day simple moving average is $18.55. The firm has a market capitalization of $8.60 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 1.05 and a beta of 0.14. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On MINISO Group

A number of large investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale lifted its position in MINISO Group by 3.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 19,573 shares of the company’s stock valued at $378,000 after purchasing an additional 690 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of MINISO Group by 9.1% in the second quarter. Cubist Systematic Strategies LLC now owns 11,249 shares of the company’s stock worth $215,000 after buying an additional 942 shares during the period. Geode Capital Management LLC boosted its position in MINISO Group by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 66,540 shares of the company’s stock valued at $1,167,000 after buying an additional 1,027 shares during the period. XTX Topco Ltd boosted its position in MINISO Group by 10.6% during the 2nd quarter. XTX Topco Ltd now owns 13,861 shares of the company’s stock valued at $264,000 after buying an additional 1,326 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in MINISO Group in the 2nd quarter worth $26,000. Hedge funds and other 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.