Sony Group (NYSE:SONY) Sees Unusually-High Trading Volume - Still a Buy?

Shares of Sony Group Co. (NYSE:SONY - Get Free Report) saw unusually-high trading volume on Monday . Approximately 10,307,996 shares changed hands during trading, an increase of 165% from the previous session's volume of 3,892,562 shares.The stock last traded at $25.16 and had previously closed at $25.23.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SONY shares. StockNews.com downgraded Sony Group from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Oppenheimer reissued an "outperform" rating and set a $33.00 target price (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Sanford C. Bernstein assumed coverage on shares of Sony Group in a report on Thursday, January 16th. They issued an "outperform" rating for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Sony Group in a research report on Tuesday. They set a "buy" rating for the company. One equities 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 company. Based on data from MarketBeat, Sony Group currently has a consensus rating of "Buy" and a consensus target price of $28.00.

Sony Group Trading Down 2.2 %

The firm's fifty day moving average price is $23.49 and its 200-day moving average price is $19.35. The company has a market cap of $151.64 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 9.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

Remove Ads

Sony Group (NYSE:SONY - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The company had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. On average, equities analysts expect that Sony Group Co. will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Commerce Bank acquired a new position in shares of Sony Group in the third quarter worth about $231,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Sony Group by 25.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 79,211 shares of the company's stock valued at $7,649,000 after buying an additional 16,073 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of Sony Group by 106.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company's stock valued at $134,000 after acquiring an additional 716 shares in the last quarter. Townsquare Capital LLC raised its holdings in shares of Sony Group by 3.0% during the third quarter. Townsquare Capital LLC now owns 45,981 shares of the company's stock worth $4,440,000 after acquiring an additional 1,323 shares in the last quarter. Finally, Cynosure Group LLC acquired a new stake in Sony Group during the third quarter valued at $209,000. 14.05% of the stock is 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.