Sony Group (NYSE:SONY) Shares Gap Down – What’s Next?

Sony Group Co. (NYSE:SONY) shares gapped down prior to trading on Friday . The stock had previously closed at $22.38, but opened at $21.87. Sony Group shares last traded at $21.82, with a volume of 266,980 shares.

Wall Street Analyst Weigh In

SONY has been the topic of several analyst reports. StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Oppenheimer lowered 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 decreased their price objective 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. One investment analyst has 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 MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $24.00.

Sony Group Price Performance

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 firm has a fifty day simple moving average of $19.09 and a two-hundred day simple moving average of $9.38. The firm has a market cap of $131.11 billion, a PE ratio of 18.33, a PEG ratio of 14.04 and a beta of 0.98.

Hedge Funds Weigh In On Sony Group

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sony Group by 11.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,433 shares of the company’s stock worth $971,000 after purchasing an additional 1,205 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Sony Group by 4.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 31,934 shares of the company’s stock worth $2,713,000 after buying an additional 1,311 shares during the period. Blue Trust Inc. increased its position in Sony Group by 279.8% during the second quarter. Blue Trust Inc. now owns 3,445 shares of the company’s stock valued at $295,000 after acquiring an additional 2,538 shares during the last quarter. Timber Creek Capital Management LLC raised its stake in shares of Sony Group by 5.0% in the second quarter. Timber Creek Capital Management LLC now owns 55,033 shares of the company’s stock valued at $4,675,000 after acquiring an additional 2,605 shares during the period. Finally, Raelipskie Partnership lifted its holdings in shares of Sony Group by 4.5% in the 2nd quarter. Raelipskie Partnership now owns 13,851 shares of the company’s stock worth $1,177,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 14.05% of the company’s stock.

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.