MINISO Group (NYSE:MNSO) Reaches New 1-Year Low – Here’s Why

MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $9.15 and last traded at $9.2250, with a volume of 477767 shares trading hands. The stock had previously closed at $9.36.

Analysts Set New Price Targets

MNSO has been the topic of a number of recent analyst reports. Citigroup cut MINISO Group from a “buy” rating to a “neutral” rating and set a $11.30 target price on the stock. in a research note on Monday, August 31st. JPMorgan Chase & Co. lowered their price objective on shares of MINISO Group from $26.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Weiss Ratings downgraded shares of MINISO Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 25th. Wall Street Zen lowered shares of MINISO Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Nomura cut shares of MINISO Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, MINISO Group presently has a consensus rating of “Hold” and an average target price of $15.27.

MINISO Group Price Performance

The business’s fifty day simple moving average is $11.51 and its 200-day simple moving average is $13.69. The company has a current ratio of 1.57, a quick ratio of 1.18 and a debt-to-equity ratio of 0.94. The firm has a market cap of $2.80 billion, a P/E ratio of 15.60 and a beta of 0.10.

MINISO Group (NYSE:MNSO) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.26 EPS for the quarter. The firm had revenue of $855.25 million during the quarter. MINISO Group had a return on equity of 19.41% and a net margin of 5.32%. As a group, analysts forecast that MINISO Group Holding Limited Unsponsored ADR will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MNSO. Sequoia Financial Advisors LLC bought a new stake in shares of MINISO Group during the second quarter valued at about $200,000. WINTON GROUP Ltd purchased a new position in MINISO Group during the second quarter valued at approximately $140,000. Allworth Financial LP grew its stake in MINISO Group by 5,641.7% during the second quarter. Allworth Financial LP now owns 2,067 shares of the company’s stock valued at $25,000 after acquiring an additional 2,031 shares in the last quarter. Nykredit A S bought a new stake in MINISO Group during the 2nd quarter worth approximately $242,000. Finally, Parallel Advisors LLC lifted its stake in MINISO Group by 794.7% in the 1st quarter. Parallel Advisors LLC now owns 2,192 shares of the company’s stock worth $36,000 after purchasing an additional 1,947 shares in 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.