Sony Group (NYSE:SONY) Sees Strong Trading Volume - Time to Buy?

Sony Group Co. (NYSE:SONY - Get Free Report) saw strong trading volume on Friday . 2,118,368 shares were traded during trading, a decline of 21% from the previous session's volume of 2,693,015 shares.The stock last traded at $20.31 and had previously closed at $20.77.

Analyst Ratings Changes

Several brokerages have issued reports on SONY. Oppenheimer reduced their price target on shares of Sony Group from $108.00 to $25.00 and set an "outperform" rating on the stock in a report on Tuesday, November 12th. 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. StockNews.com downgraded Sony Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, November 19th. Finally, Daiwa America raised Sony Group to a "strong-buy" rating in a report on Wednesday, September 18th. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $24.00.

Sony Group Price Performance

The stock has a market capitalization of $123.13 billion, a PE ratio of 16.66, a PEG ratio of 13.74 and a beta of 0.95. The company's 50 day simple moving average is $20.26 and its 200 day simple moving average is $11.97. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Hedge Funds Weigh In On Sony Group

Institutional investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC grew its holdings in Sony Group by 12.7% in the 3rd quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company's stock valued at $834,013,000 after buying an additional 972,075 shares during the period. Mediolanum International Funds Ltd purchased a new stake in Sony Group in the third quarter valued at approximately $109,462,000. Marshall Wace LLP increased its position in Sony Group by 8,495.0% during the second quarter. Marshall Wace LLP now owns 848,414 shares of the company's stock worth $72,073,000 after purchasing an additional 838,543 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Sony Group by 0.5% during the third quarter. Thrivent Financial for Lutherans now owns 637,656 shares of the company's stock worth $61,579,000 after purchasing an additional 2,974 shares during the period. Finally, Sei Investments Co. raised its stake in Sony Group by 3.5% during the second quarter. Sei Investments Co. now owns 611,514 shares of the company's stock worth $51,946,000 after purchasing an additional 20,802 shares during the period. 14.05% of the stock is currently owned by institutional investors and hedge funds.

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.