Sony Group (NYSE:SONY) Sees Strong Trading Volume – Still a Buy?

Sony Group Co. (NYSE:SONY) saw unusually-high trading volume on Friday . Approximately 2,118,368 shares changed hands during mid-day trading, a decline of 21% from the previous session’s volume of 2,693,015 shares.The stock last traded at $20.31 and had previously closed at $20.77.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. TD Cowen cut their target price on Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. StockNews.com downgraded Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. Oppenheimer cut their price target on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $24.00.

Sony Group Trading Down 1.7 %

The stock’s fifty day moving average price is $20.20 and its 200 day moving average price is $11.86. The stock has a market cap of $123.49 billion, a P/E ratio of 16.71, a PEG ratio of 13.74 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 Investors Weigh In On Sony Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SONY. Fisher Asset Management LLC boosted its position in shares of Sony Group by 12.7% in the 3rd quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company’s stock worth $834,013,000 after purchasing an additional 972,075 shares in the last quarter. Mediolanum International Funds Ltd bought a new position in shares of Sony Group during the third quarter valued at $109,462,000. Marshall Wace LLP boosted its stake in 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 in the last quarter. Thrivent Financial for Lutherans grew its position in Sony Group by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 637,656 shares of the company’s stock valued at $61,579,000 after purchasing an additional 2,974 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Sony Group by 3.5% during the 2nd quarter. Sei Investments Co. now owns 611,514 shares of the company’s stock valued at $51,946,000 after purchasing an additional 20,802 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.