Short Interest in Sony Group Co. (NYSE:SONY) Rises By 444.9%

Sony Group Co. (NYSE:SONY) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 11,170,000 shares, a growth of 444.9% from the September 15th total of 2,050,000 shares. Based on an average daily volume of 3,700,000 shares, the days-to-cover ratio is currently 3.0 days. Approximately 0.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC grew its stake in shares of Sony Group by 5.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,358,712 shares of the company’s stock worth $602,106,000 after buying an additional 341,566 shares in the last quarter. Mondrian Investment Partners LTD increased its stake in Sony Group by 43.4% during the first quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock worth $220,033,000 after acquiring an additional 774,502 shares during the last quarter. Harding Loevner LP raised its position in Sony Group by 2,206.6% during the fourth quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock valued at $219,419,000 after purchasing an additional 2,181,169 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Sony Group by 1.2% in the 1st quarter. Clearbridge Investments LLC now owns 1,616,928 shares of the company’s stock valued at $138,635,000 after purchasing an additional 18,487 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Sony Group by 8,495.0% in the 2nd quarter. Marshall Wace LLP now owns 848,414 shares of the company’s stock worth $72,073,000 after purchasing an additional 838,543 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Price Performance

NYSE SONY traded down $0.20 during trading hours on Thursday, reaching $18.85. The company’s stock had a trading volume of 2,077,725 shares, compared to its average volume of 4,018,120. Sony Group has a 1 year low of $15.02 and a 1 year high of $20.18. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $23.27 billion, a price-to-earnings ratio of 3.47 and a beta of 0.94. The firm’s 50-day moving average price is $29.15 and its 200-day moving average price is $21.18.

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, August 7th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $19.32 billion for the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. On average, equities research analysts predict that Sony Group will post 3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SONY shares. Daiwa America raised Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. StockNews.com raised shares of Sony Group from a “hold” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sony Group presently has an average rating of “Buy” and an average price target of $21.60.

About Sony Group

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.