MINISO Group (NYSE:MNSO) Hits New 52-Week Low - What's Next?

Key Points

• MINISO shares hit a new 52-week low, falling to $9.15 during Wednesday trading and last trading near $9.23.
• Analyst sentiment is mixed but leans toward “Hold”, with a consensus price target of $15.27. Ratings include one Strong Buy, two Buys, four Holds and one Sell.
• The company reported quarterly EPS of $0.26 on $855.25 million in revenue, while hedge funds and institutional investors owned 17.16% of the stock.

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

Wall Street Analyst Weigh In

MNSO has been the topic of a number of research reports. Weiss Ratings lowered MINISO Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, June 25th. China Intl Cap upgraded shares of MINISO Group to a "strong-buy" rating in a research note on Monday, August 31st. Wall Street Zen downgraded shares of MINISO Group from a "buy" rating to a "hold" rating in a report on Saturday, August 29th. HSBC reiterated a "hold" rating and issued a $10.80 price objective on shares of MINISO Group in a research note on Monday, August 31st. Finally, JPMorgan Chase & Co. reduced their target price on shares of MINISO Group from $26.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $15.27.

MINISO Group Stock Down 1.2%

The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.18 and a current ratio of 1.57. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 15.94 and a beta of 0.10. The business's 50 day moving average price is $11.62 and its 200 day moving average price is $13.84.

MINISO Group (NYSE:MNSO - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.26 earnings per share (EPS) for the quarter. The firm had revenue of $855.25 million for the quarter. MINISO Group had a net margin of 5.32% and a return on equity of 19.41%. On average, equities analysts forecast that MINISO Group Holding Limited Unsponsored ADR will post 1.12 EPS for the current year.

Institutional Investors Weigh In On MINISO Group

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its stake 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 purchasing an additional 10,747 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in 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 in the last quarter. Creative Planning boosted its position in MINISO Group by 45.1% during the second quarter. Creative Planning now owns 16,662 shares of the company's stock worth $304,000 after purchasing an additional 5,177 shares in the last quarter. American Century Companies Inc. increased its position in shares of MINISO Group by 0.4% in the second quarter. American Century Companies Inc. now owns 133,224 shares of the company's stock valued at $2,427,000 after buying an additional 595 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of MINISO Group by 37.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company's stock worth $41,000 after buying an additional 608 shares during the period. 17.16% of the stock is owned by hedge funds and other institutional investors.

About MINISO Group

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.

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