Sony Group (NYSE:SONY) Downgraded to Buy Rating by StockNews.com

StockNews.com cut shares of Sony Group (NYSE:SONY - Free Report) from a strong-buy rating to a buy rating in a report released on Tuesday.

Other equities research analysts also recently issued reports about the company. Oppenheimer decreased their target price on Sony Group from $108.00 to $25.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. Daiwa America upgraded Sony Group to a "strong-buy" rating in a research report on Wednesday, September 18th. Finally, TD Cowen cut their price target on shares of Sony Group from $107.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Sony Group presently has a consensus rating of "Buy" and a consensus price target of $24.00.

Sony Group Stock Performance

Shares of SONY traded down $0.05 during mid-day trading on Tuesday, hitting $18.92. 2,533,873 shares of the company traded hands, compared to its average volume of 3,866,481. The stock has a market cap of $114.42 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 11.69 and a beta of 0.95. Sony Group has a 1 year low of $15.02 and a 1 year high of $20.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The stock has a 50-day moving average price of $14.67 and a two-hundred day moving average price of $7.41.

Institutional Investors Weigh In On Sony Group

Hedge funds have recently made changes to their positions in the stock. Pictet North America Advisors SA lifted its stake in shares of Sony Group by 19.4% during the third quarter. Pictet North America Advisors SA now owns 243,975 shares of the company's stock worth $23,561,000 after buying an additional 39,688 shares during the period. Crossmark Global Holdings Inc. lifted its position in Sony Group by 39.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 103,473 shares of the company's stock worth $9,993,000 after acquiring an additional 29,165 shares during the period. Ellsworth Advisors LLC purchased a new stake in Sony Group during the 2nd quarter valued at about $1,413,000. Diversify Wealth Management LLC increased its holdings in Sony Group by 511.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 50,399 shares of the company's stock worth $4,867,000 after buying an additional 42,156 shares during the period. Finally, Creative Planning increased its stake in shares of Sony Group by 2.7% in the second quarter. Creative Planning now owns 284,636 shares of the company's stock worth $24,180,000 after acquiring an additional 7,401 shares during the period. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

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.