Short Interest in Sony Group Co. (NYSE:SONY) Declines By 22.1%

Sony Group Co. (NYSE:SONY - Get Free Report) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 7,400,000 shares, a drop of 22.1% from the October 31st total of 9,500,000 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 2,930,000 shares, the short-interest ratio is currently 2.5 days.

Analyst Ratings Changes

A number of research analysts have commented on SONY shares. StockNews.com cut shares of Sony Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 19th. TD Cowen dropped their price target on Sony Group from $107.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, October 11th. Daiwa America raised Sony Group to a "strong-buy" rating in a research note on Wednesday, September 18th. Finally, Oppenheimer dropped their price target 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. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $24.00.

Hedge Funds Weigh In On Sony Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd bought a new position in shares of Sony Group during the third quarter valued at $109,462,000. Fisher Asset Management LLC increased its holdings in shares of Sony Group by 12.7% during the third quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company's stock valued at $834,013,000 after acquiring an additional 972,075 shares in the last quarter. Marshall Wace LLP increased its holdings 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 buying an additional 838,543 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Sony Group by 601.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 257,329 shares of the company's stock worth $24,850,000 after buying an additional 220,628 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in Sony Group in the 2nd quarter worth about $18,567,000. Hedge funds and other institutional investors own 14.05% of the company's stock.

Sony Group Stock Up 1.5 %

Sony Group stock traded up $0.29 on Friday, hitting $20.05. 1,247,694 shares of the stock traded hands, compared to its average volume of 3,832,398. 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 firm has a market cap of $121.26 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 12.52 and a beta of 0.95. The business's fifty day simple moving average is $16.86 and its 200 day simple moving average is $8.14. Sony Group has a 1 year low of $15.02 and a 1 year high of $20.67.

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.