Sony Group (NYSE:SONY) Shares Gap Down – Time to Sell?

Shares of Sony Group Co. (NYSE:SONY) gapped down prior to trading on Friday . The stock had previously closed at $18.51, but opened at $18.11. Sony Group shares last traded at $18.15, with a volume of 434,470 shares trading hands.

Analyst Ratings Changes

SONY has been the topic of a number of recent research reports. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. TD Cowen dropped their price objective on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sony Group presently has an average rating of “Moderate Buy” and an average price target of $22.30.

Sony Group Trading Down 1.6 %

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 business’s fifty day moving average is $29.39 and its 200 day moving average is $21.27. The stock has a market cap of $22.49 billion, a PE ratio of 3.35 and a beta of 0.94.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. As a group, analysts predict that Sony Group Co. will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Sony Group

Several hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP increased its position in Sony Group by 8,495.0% during the second quarter. Marshall Wace LLP now owns 848,414 shares of the company’s stock worth $72,073,000 after buying an additional 838,543 shares in the last quarter. Mondrian Investment Partners LTD increased its position in Sony Group by 43.4% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock worth $220,033,000 after purchasing an additional 774,502 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Sony Group in the 2nd quarter valued at about $18,567,000. Pictet North America Advisors SA purchased a new position in Sony Group in the 1st quarter valued at about $18,702,000. Finally, Alight Capital Management LP purchased a new position in shares of Sony Group during the second quarter valued at approximately $12,742,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

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.