Sony Group (NYSE:SONY) Sees Strong Trading Volume – What’s Next?

Sony Group Co. (NYSE:SONY) shares saw an uptick in trading volume on Monday . 10,307,996 shares were traded during 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.

Analysts Set New Price Targets

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

Sony Group Stock Performance

The firm has a market cap of $152.22 billion, a P/E ratio of 20.43, a PEG ratio of 9.95 and a beta of 0.91. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average is $23.08 and its two-hundred day moving average is $18.95.

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 the consensus estimate 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 for the quarter, compared to analysts’ expectations of $24.32 billion. As a group, equities analysts predict that Sony Group Co. will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Sony Group

Hedge funds have recently modified their holdings of the company. Primecap Management Co. CA raised its holdings in shares of Sony Group by 379.5% in the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock worth $2,158,232,000 after purchasing an additional 80,724,932 shares during the period. Aristotle Capital Management LLC raised its holdings in shares of Sony Group by 393.7% in the 4th quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock worth $1,116,653,000 after purchasing an additional 42,083,842 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Sony Group by 425.9% in the 4th quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after purchasing an additional 36,783,737 shares during the period. Bank of America Corp DE raised its holdings in shares of Sony Group by 377.7% in the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock worth $503,713,000 after purchasing an additional 18,821,902 shares during the period. Finally, Fiduciary Management Inc. WI raised its holdings in shares of Sony Group by 377.2% in the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock worth $218,382,000 after purchasing an additional 8,157,776 shares during the period. 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.