Sony Group (NYSE:SONY) Shares Gap Up to $78.45

Sony Group Co. (NYSE:SONY) gapped up prior to trading on Thursday . The stock had previously closed at $78.45, but opened at $80.48. Sony Group shares last traded at $80.54, with a volume of 91,089 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Sony Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $108.00 price target on shares of Sony Group in a research note on Monday, February 26th. Finally, Macquarie downgraded shares of Sony Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Sony Group presently has a consensus rating of “Moderate Buy” and an average target price of $108.00.

Sony Group Price Performance

The company has a quick ratio of 0.52, a current ratio of 0.66 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $99.72 billion, a price-to-earnings ratio of 14.42 and a beta of 0.95. The company’s 50-day simple moving average is $82.92 and its 200 day simple moving average is $88.36.

Sony Group (NYSE:SONY) last posted its earnings results on Tuesday, May 14th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. The firm had revenue of $23.45 billion for the quarter, compared to the consensus estimate of $18.97 billion. Sony Group had a net margin of 7.95% and a return on equity of 13.05%. During the same period in the prior year, the business posted $0.78 earnings per share. Equities research analysts forecast that Sony Group Co. will post 5.61 EPS for the current year.

Institutional Investors Weigh In On Sony Group

Several hedge funds and other institutional investors have recently made changes to their positions in SONY. Harding Loevner LP grew its position in shares of Sony Group by 2,206.6% in the fourth quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock valued at $219,419,000 after purchasing an additional 2,181,169 shares during the last quarter. Mondrian Investment Partners LTD grew its position in shares of Sony Group by 43.4% in the first quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock valued at $220,033,000 after purchasing an additional 774,502 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Sony Group by 5.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock valued at $602,150,000 after purchasing an additional 342,025 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Sony Group by 39.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,067,247 shares of the company’s stock valued at $87,952,000 after purchasing an additional 299,300 shares during the last quarter. Finally, Pictet North America Advisors SA bought a new stake in shares of Sony Group in the first quarter valued at about $18,702,000. 14.05% of the stock is owned by institutional investors and hedge funds.

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.