MINISO Group (NYSE:MNSO) Sees Unusually-High Trading Volume – What’s Next?

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO) shares saw an uptick in trading volume on Monday . 726,454 shares traded hands during trading, an increase of 37% from the previous session’s volume of 531,940 shares.The stock last traded at $19.0950 and had previously closed at $18.91.

Wall Street Analysts Forecast Growth

MNSO has been the topic of several analyst reports. Zacks Research upgraded MINISO Group from a “strong sell” rating to a “hold” rating in a research note on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of MINISO Group in a report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft began coverage on MINISO Group in a research note on Tuesday, November 25th. They issued a “buy” rating and a $23.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $25.13.

MINISO Group Stock Performance

The stock has a 50 day simple moving average of $19.44 and a two-hundred day simple moving average of $21.09. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.33 and a beta of 0.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.65 and a quick ratio of 1.26.

Institutional Trading of MINISO Group

Several institutional investors have recently modified their holdings of MNSO. Royal Bank of Canada grew its position in shares of MINISO Group by 66.4% in the 1st quarter. Royal Bank of Canada now owns 26,928 shares of the company’s stock valued at $498,000 after buying an additional 10,747 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of MINISO Group by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 315,424 shares of the company’s stock worth $5,832,000 after purchasing an additional 5,086 shares during the last quarter. Nordea Investment Management AB increased its position in shares of MINISO Group by 5.7% during the second quarter. Nordea Investment Management AB now owns 397,322 shares of the company’s stock worth $7,215,000 after purchasing an additional 21,299 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of MINISO Group in the 2nd quarter valued at about $326,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of MINISO Group by 3,465.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,139 shares of the company’s stock valued at $39,000 after purchasing an additional 2,079 shares during the last quarter. Hedge funds and other institutional investors own 17.16% of the company’s stock.

MINISO Group Company Profile

MINISO Group (NYSE: MNSO) is a global retailer specializing in lifestyle and consumer goods. Since its founding in 2013, the company has focused on offering affordable, design-driven products across a broad range of categories. MINISO’s stores feature a clean, minimalist layout and emphasize a “fast fashion” inventory model designed to turn over goods quickly and respond to emerging trends.

The company’s product mix spans household items, kitchenware, cosmetics and personal care, stationery, toys, digital accessories, apparel and seasonal items.