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

Sony Group Co. (NYSE:SONY) saw strong trading volume on Monday . 10,307,996 shares changed hands during mid-day trading, an increase of 165% from the previous session’s volume of 3,892,562 shares.The stock last traded at $25.16 and had previously closed at $25.23.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SONY. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group started coverage on Sony Group in a report on Tuesday. They set a “buy” rating on the stock. Sanford C. Bernstein assumed coverage on shares of Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $33.00 target price (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. One research 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 data from MarketBeat, Sony Group presently has an average rating of “Buy” and an average target price of $28.00.

Sony Group Trading Down 0.1 %

The firm has a market capitalization of $152.64 billion, a PE ratio of 20.49, a PEG ratio of 9.95 and a beta of 0.91. The business has a fifty day moving average price of $23.28 and a two-hundred day moving average price of $19.26. 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, beating analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The business had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. Analysts expect that Sony Group Co. will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SONY. Wealth Enhancement Advisory Services LLC grew its stake in shares of Sony Group by 427.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 101,311 shares of the company’s stock valued at $2,144,000 after buying an additional 82,097 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Sony Group by 693.0% during the fourth 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 during the period. Integrated Advisors Network LLC lifted its position in shares of Sony Group by 364.1% during the fourth 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 purchased a new position in shares of Sony Group in the fourth quarter valued at approximately $286,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Sony Group in the fourth quarter valued at approximately $7,800,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

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.