Sony Group (NYSE:SONY) Shares Gap Down to $94.36

Sony Group Co. (NYSE:SONY - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $94.36, but opened at $92.16. Sony Group shares last traded at $91.21, with a volume of 123,917 shares traded.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Sony Group from a "buy" rating to a "hold" rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Sony Group has an average rating of "Moderate Buy" and a consensus price target of $108.00.

Sony Group Stock Performance

The company has a market cap of $111.15 billion, a price-to-earnings ratio of 16.55 and a beta of 0.95. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26. The stock's fifty day simple moving average is $90.16 and its 200 day simple moving average is $86.16.

Sony Group shares are going to split before the market opens on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be issued to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.11. The business had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. As a group, analysts anticipate that Sony Group Co. will post 5.63 earnings per share for the current year.

Institutional Trading of Sony Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Sony Group during the 2nd quarter worth approximately $26,000. Sunbelt Securities Inc. purchased a new position in shares of Sony Group during the 1st quarter worth approximately $29,000. Rise Advisors LLC boosted its position in shares of Sony Group by 259.2% during the 1st quarter. Rise Advisors LLC now owns 352 shares of the company's stock worth $30,000 after purchasing an additional 254 shares during the period. Ridgewood Investments LLC purchased a new position in shares of Sony Group during the 2nd quarter worth approximately $41,000. Finally, Family Firm Inc. purchased a new position in Sony Group in the 2nd quarter valued at approximately $44,000. Institutional investors and hedge funds own 14.05% of the company's stock.

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.