Sony Group (NYSE:SONY) Reaches New 52-Week High – Here’s Why

Sony Group Co. (NYSE:SONY) reached a new 52-week high on Wednesday . The stock traded as high as $22.86 and last traded at $22.77, with a volume of 156634 shares trading hands. The stock had previously closed at $22.52.

Analysts Set New Price Targets

SONY has been the subject of a number of research reports. StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. TD Cowen decreased their target price on Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Oppenheimer dropped their target price on Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Sanford C. Bernstein initiated coverage on Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Sony Group presently has a consensus rating of “Buy” and an average target price of $24.00.

Sony Group Stock Up 0.4 %

The firm has a market cap of $139.19 billion, a P/E ratio of 18.83, a PEG ratio of 10.96 and a beta of 0.96. The firm’s 50-day moving average price is $21.20 and its 200 day moving average price is $14.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

Hedge Funds Weigh In On Sony Group

Large investors have recently added to or reduced their stakes in the company. Y.D. More Investments Ltd raised its holdings in shares of Sony Group by 400.0% during the fourth quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock worth $763,000 after purchasing an additional 28,852 shares during the period. Pictet North America Advisors SA raised its stake in Sony Group by 19.4% during the third quarter. Pictet North America Advisors SA now owns 243,975 shares of the company’s stock worth $23,561,000 after acquiring an additional 39,688 shares during the period. Fifth Third Bancorp lifted its holdings in Sony Group by 311.3% in the fourth quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock worth $3,337,000 after acquiring an additional 119,362 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its stake in Sony Group by 430.0% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock valued at $854,000 after acquiring an additional 32,725 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of Sony Group by 39.2% during the third quarter. Crossmark Global Holdings Inc. now owns 103,473 shares of the company’s stock valued at $9,993,000 after purchasing an additional 29,165 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors.

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.