Sony Group (NYSE:SONY) Sees Unusually-High Trading Volume – Still a Buy?

Sony Group Co. (NYSE:SONY) saw unusually-strong trading volume on Tuesday . Approximately 6,071,467 shares were traded during trading, an increase of 52% from the previous session’s volume of 3,994,117 shares.The stock last traded at $24.76 and had previously closed at $25.39.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SONY shares. The Goldman Sachs Group initiated coverage on shares of Sony Group in a research report on Tuesday, March 25th. They issued a “buy” rating for the company. Oppenheimer reissued an “outperform” rating and set a $33.00 price objective (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Sanford C. Bernstein assumed coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sony Group currently has a consensus rating of “Buy” and an average target price of $28.00.

Sony Group Price Performance

The firm has a market capitalization of $150.41 billion, a PE ratio of 20.19, a P/E/G ratio of 9.95 and a beta of 0.91. The firm’s fifty day moving average price is $23.84 and its 200 day moving average price is $20.06. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

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

Institutional Investors Weigh In On Sony Group

Several hedge funds have recently bought and sold shares of the stock. Silicon Valley Capital Partners boosted its holdings in Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after buying an additional 927 shares in the last quarter. Capital Analysts LLC boosted its stake in shares of Sony Group by 400.0% during the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after acquiring an additional 936 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Sony Group during the 4th quarter worth about $26,000. Fairscale Capital LLC grew its position in shares of Sony Group by 400.0% during the 4th quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock valued at $26,000 after acquiring an additional 992 shares during the period. Finally, General Partner Inc. increased its stake in shares of Sony Group by 400.0% in the 4th quarter. General Partner Inc. now owns 1,245 shares of the company’s stock valued at $26,000 after purchasing an additional 996 shares in the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

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.