MINISO Group (NYSE:MNSO) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• MINISO shares fell 9.4% to $9.405 while trading volume rose 23% to 737,892 shares, significantly below the stock’s 50-day and 200-day moving averages.
• Analyst sentiment remains mixed but centers on a “Hold” consensus: two analysts rate the stock Buy, three Hold and one Sell, with a consensus price target of $15.27.
• The company reported quarterly EPS of $0.26 on $855.25 million in revenue, with a 19.4% return on equity and 5.32% net margin; institutional investors own 17.16% of the stock.

Shares of MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO - Get Free Report) saw unusually-strong trading volume on Monday . 737,892 shares traded hands during trading, an increase of 23% from the previous session's volume of 597,623 shares.The stock last traded at $9.4050 and had previously closed at $10.33.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MNSO shares. Wall Street Zen cut shares of MINISO Group from a "buy" rating to a "hold" rating in a research note on Saturday. HSBC reiterated a "hold" rating and set a $10.80 target price on shares of MINISO Group in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on MINISO Group from $26.00 to $16.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Citigroup reiterated a "neutral" rating and issued a $11.30 target price on shares of MINISO Group in a research report on Monday. Finally, Zacks Research upgraded MINISO Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.27.

MINISO Group Trading Down 9.4%

The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 0.76. The stock's fifty day simple moving average is $11.91 and its two-hundred day simple moving average is $14.32. The firm has a market cap of $2.90 billion, a PE ratio of 16.14, a PEG ratio of 1.28 and a beta of 0.11.

MINISO Group (NYSE:MNSO - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.26 earnings per share for the quarter. The firm had revenue of $855.25 million during the quarter. MINISO Group had a return on equity of 19.40% and a net margin of 5.32%. On average, sell-side analysts forecast that MINISO Group Holding Limited Unsponsored ADR will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MNSO. Royal Bank of Canada lifted its holdings in shares of MINISO Group by 66.4% during 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 period. Goldman Sachs Group Inc. raised its position in shares of MINISO Group by 1.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 315,424 shares of the company's stock valued at $5,832,000 after purchasing an additional 5,086 shares during the period. Creative Planning lifted its position in shares of MINISO Group by 45.1% in the second quarter. Creative Planning now owns 16,662 shares of the company's stock valued at $304,000 after acquiring an additional 5,177 shares in the last quarter. American Century Companies Inc. boosted its stake in MINISO Group by 0.4% in the 2nd quarter. American Century Companies Inc. now owns 133,224 shares of the company's stock worth $2,427,000 after purchasing an additional 595 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of MINISO Group by 37.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company's stock worth $41,000 after acquiring an additional 608 shares during the last quarter. 17.16% of the stock is owned by hedge funds and other institutional investors.

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.

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