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

Sony Group Co. (NYSE:SONY) shares saw an uptick in trading volume on Tuesday . 6,071,467 shares traded hands during trading, an increase of 52% from the previous session’s volume of 3,994,117 shares.The stock last traded at $24.76 and had previously closed at $25.39.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SONY shares. Sanford C. Bernstein started coverage on Sony Group in a report on Thursday, January 16th. They set an “outperform” rating on the stock. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group began coverage on Sony Group in a research note on Tuesday, March 25th. They issued a “buy” rating for the company. Finally, 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. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $28.00.

Sony Group Price Performance

The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock has a market cap of $151.95 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. The business has a 50-day simple moving average of $23.68 and a 200 day simple moving average of $19.87.

Sony Group (NYSE:SONY) last announced its 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 return on equity of 14.10% and a net margin of 8.21%. The business had revenue of $28.95 billion for the quarter, compared to analysts’ expectations of $24.32 billion. On average, analysts forecast that Sony Group Co. will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Sony Group

A number of hedge funds have recently bought and sold shares of the company. Silicon Valley Capital Partners raised its position in shares of Sony Group by 401.3% in the 4th quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after acquiring an additional 927 shares in the last quarter. Capital Analysts LLC increased its holdings in Sony Group by 400.0% in the fourth quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after purchasing an additional 936 shares in the last quarter. General Partner Inc. lifted its stake in Sony Group by 400.0% in the fourth quarter. General Partner Inc. now owns 1,245 shares of the company’s stock valued at $26,000 after buying an additional 996 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of Sony Group during the 4th quarter worth approximately $26,000. Finally, Fairscale Capital LLC increased its stake in shares of Sony Group by 400.0% in the 4th quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock valued at $26,000 after acquiring an additional 992 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

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.