Sony Group (NYSE:SONY) Shares Gap Down - Should You Sell?

Sony Group Co. (NYSE:SONY - Get Free Report)'s share price 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 traded.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Daiwa America upgraded shares of Sony Group to a "strong-buy" rating in a research note on Wednesday, September 18th. StockNews.com lowered shares of Sony Group from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, TD Cowen reduced their price objective on shares of Sony Group from $107.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.30.

Sony Group Stock Performance

The firm has a market capitalization of $22.48 billion, a P/E ratio of 3.34 and a beta of 0.94. 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 business's 50 day simple moving average is $29.37 and its two-hundred day simple moving average is $21.23.

Sony Group (NYSE:SONY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.02. The company had revenue of $19.32 billion for 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%. Sell-side analysts anticipate that Sony Group Co. will post 0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Sony Group

Large investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Sony Group during the second quarter valued at approximately $26,000. Sunbelt Securities Inc. bought a new stake in shares of Sony Group during the first quarter valued at approximately $29,000. Rise Advisors LLC raised its position in shares of Sony Group by 259.2% during the first quarter. Rise Advisors LLC now owns 352 shares of the company's stock valued at $30,000 after buying an additional 254 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of Sony Group during the second quarter valued at approximately $41,000. Finally, Family Firm Inc. bought a new stake in Sony Group in the second quarter worth $44,000. Hedge funds and other institutional investors 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.