Sony Group (NYSE:SONY) Hits New 1-Year High - Here's What Happened

Sony Group Co. (NYSE:SONY - Get Free Report) shares hit a new 52-week high on Friday . The company traded as high as $20.26 and last traded at $20.25, with a volume of 2432063 shares trading hands. The stock had previously closed at $18.27.

Analysts Set New Price Targets

SONY has been the subject of a number of research reports. StockNews.com cut shares of Sony Group from a "buy" rating to a "hold" rating in a research note on Thursday, October 17th. Daiwa America upgraded shares of Sony Group to a "strong-buy" rating in a research report on Wednesday, September 18th. Finally, TD Cowen reduced their target price on Sony Group from $107.00 to $23.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $13.66.

Sony Group Stock Performance

The company has a market cap of $120.41 billion, a P/E ratio of 19.00 and a beta of 0.95. The business has a 50 day moving average price of $12.25 and a two-hundred day moving average price of $6.49. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63.

Sony Group (NYSE:SONY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The firm had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. On average, sell-side analysts anticipate that Sony Group Co. will post 1.12 earnings per share for the current year.

Institutional Trading of Sony Group

Several large investors have recently modified their holdings of SONY. Mediolanum International Funds Ltd purchased a new stake in shares of Sony Group in the 3rd quarter worth about $109,462,000. Marshall Wace LLP lifted its holdings in Sony Group by 8,495.0% in the second 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 during the period. Mondrian Investment Partners LTD boosted its position in Sony Group by 43.4% during the 1st quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company's stock valued at $220,033,000 after acquiring an additional 774,502 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Sony Group during the 2nd quarter worth approximately $18,567,000. Finally, Alight Capital Management LP bought a new position in shares of Sony Group in the 2nd quarter worth approximately $12,742,000. 14.05% of the stock is owned by 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.