Sony Group (NYSE:SONY) Sees Strong Trading Volume – Here’s What Happened

Sony Group Co. (NYSE:SONY) saw unusually-strong trading volume on Monday . Approximately 4,877,318 shares traded hands during trading, an increase of 20% from the previous session’s volume of 4,070,174 shares.The stock last traded at $24.40 and had previously closed at $24.10.

Analyst Ratings Changes

A number of research analysts recently issued reports on SONY shares. Sanford C. Bernstein started coverage on Sony Group in a report on Thursday, January 16th. They set an “outperform” rating on the stock. Oppenheimer restated an “outperform” rating and set a $33.00 price target (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Finally, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $28.00.

Sony Group Price Performance

The business has a fifty day simple moving average of $22.67 and a two-hundred day simple moving average of $18.22. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock has a market cap of $147.59 billion, a PE ratio of 19.81, a P/E/G ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last posted its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The firm had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. Research analysts forecast that Sony Group Co. will post 1.23 earnings per share for the current year.

Institutional Trading of Sony Group

A number of hedge funds have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. boosted its position in shares of Sony Group by 693.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 55,186 shares of the company’s stock worth $1,168,000 after purchasing an additional 48,227 shares in the last quarter. Integrated Advisors Network LLC boosted its position in shares of Sony Group by 364.1% in the 4th quarter. Integrated Advisors Network LLC now owns 22,432 shares of the company’s stock worth $475,000 after purchasing an additional 17,599 shares in the last quarter. Challenger Wealth Management bought a new stake in shares of Sony Group in the 4th quarter worth approximately $286,000. Mackenzie Financial Corp bought a new stake in shares of Sony Group in the 4th quarter worth approximately $7,800,000. Finally, Forum Financial Management LP lifted its position in Sony Group by 536.0% in the 4th quarter. Forum Financial Management LP now owns 115,250 shares of the company’s stock valued at $2,439,000 after acquiring an additional 97,130 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Group Company Profile

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.