Short Interest in Sony Group Co. (NYSE:SONY) Rises By 21.6%

Sony Group Co. (NYSE:SONY - Get Free Report) saw a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 9,190,000 shares, an increase of 21.6% from the January 31st total of 7,560,000 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 3,630,000 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SONY shares. StockNews.com cut Sony Group from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Sanford C. Bernstein started coverage on Sony Group in a report on Thursday, January 16th. They set an "outperform" rating on the stock. Finally, Oppenheimer reissued an "outperform" rating and set a $33.00 target price (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $28.00.

Sony Group Price Performance

NYSE:SONY traded down $0.28 during midday trading on Friday, hitting $24.13. 3,617,070 shares of the stock were exchanged, compared to its average volume of 3,647,513. Sony Group has a one year low of $15.02 and a one year high of $25.64. The company has a market capitalization of $145.90 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 9.95 and a beta of 0.91. The business has a 50-day moving average price of $22.45 and a two-hundred day moving average price of $17.43. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Remove Ads

Sony Group (NYSE:SONY - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. The company had revenue of $28.95 billion for the quarter, compared to analysts' expectations of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. Sell-side analysts predict that Sony Group will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. grew its position in Sony Group by 693.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 55,186 shares of the company's stock worth $1,168,000 after purchasing an additional 48,227 shares in the last quarter. Integrated Advisors Network LLC grew its position in Sony Group by 364.1% during the 4th quarter. Integrated Advisors Network LLC now owns 22,432 shares of the company's stock worth $475,000 after purchasing an additional 17,599 shares in the last quarter. Challenger Wealth Management purchased a new position in Sony Group during the 4th quarter worth approximately $286,000. Mackenzie Financial Corp purchased a new position in Sony Group during the 4th quarter worth approximately $7,800,000. Finally, Forum Financial Management LP grew its position in Sony Group by 536.0% during the 4th quarter. Forum Financial Management LP now owns 115,250 shares of the company's stock worth $2,439,000 after purchasing an additional 97,130 shares in the last quarter. 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.