Sony Group (NYSE:SONY) Shares Gap Down – What’s Next?

Sony Group Co. (NYSE:SONY) shares gapped down prior to trading on Friday . The stock had previously closed at $21.37, but opened at $20.81. Sony Group shares last traded at $20.84, with a volume of 941,760 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SONY shares. TD Cowen reduced their target price on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Sanford C. Bernstein initiated coverage on Sony Group in a research note on Thursday, January 16th. They set an “outperform” rating on the stock. Oppenheimer lowered their target price on Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, StockNews.com lowered Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. 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 company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $24.00.

Sony Group Stock Performance

The business’s fifty day simple moving average is $20.68 and its 200-day simple moving average is $13.24. The firm has a market cap of $125.94 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 13.02 and a beta of 0.95. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SONY. Hexagon Capital Partners LLC grew its position in shares of Sony Group by 38.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 836 shares of the company’s stock worth $81,000 after buying an additional 233 shares during the last quarter. Wedmont Private Capital lifted its stake in Sony Group by 12.9% in the third quarter. Wedmont Private Capital now owns 2,767 shares of the company’s stock worth $265,000 after acquiring an additional 316 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Sony Group by 2.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 19,542 shares of the company’s stock valued at $1,660,000 after acquiring an additional 549 shares in the last quarter. Fiduciary Trust Co increased its position in Sony Group by 13.4% during the 3rd quarter. Fiduciary Trust Co now owns 4,965 shares of the company’s stock valued at $479,000 after purchasing an additional 585 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in Sony Group by 14.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 4,629 shares of the company’s stock worth $447,000 after purchasing an additional 599 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.