Sony Group (NYSE:SONY) Sees Strong Trading Volume – Time to Buy?

Sony Group Co. (NYSE:SONY) saw strong trading volume on Friday . 2,118,368 shares were traded during trading, a decline of 21% from the previous session’s volume of 2,693,015 shares.The stock last traded at $20.31 and had previously closed at $20.77.

Analysts Set New Price Targets

SONY has been the subject of several recent analyst reports. StockNews.com cut 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 shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. TD Cowen reduced their price target on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, Daiwa America raised shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sony Group presently has a consensus rating of “Buy” and a consensus target price of $24.00.

Sony Group Price Performance

The firm has a 50-day simple moving average of $20.20 and a 200-day simple moving average of $11.86. The firm has a market capitalization of $123.49 billion, a PE ratio of 16.71, a PEG ratio of 13.74 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

Institutional Trading of Sony Group

Several large investors have recently added to or reduced their stakes in SONY. Hexagon Capital Partners LLC boosted its stake in shares of Sony Group by 38.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 836 shares of the company’s stock worth $81,000 after acquiring an additional 233 shares during the last quarter. General Partner Inc. lifted its position in Sony Group by 400.0% during the fourth quarter. General Partner Inc. now owns 1,245 shares of the company’s stock valued at $26,000 after purchasing an additional 996 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in Sony Group by 106.2% during the third quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company’s stock valued at $134,000 after purchasing an additional 716 shares during the period. Hilltop National Bank increased its position in Sony Group by 346.3% in the fourth quarter. Hilltop National Bank now owns 1,513 shares of the company’s stock worth $32,000 after buying an additional 1,174 shares in the last quarter. Finally, Rise Advisors LLC raised its stake in shares of Sony Group by 399.1% in the fourth quarter. Rise Advisors LLC now owns 1,747 shares of the company’s stock worth $37,000 after buying an additional 1,397 shares during the period. 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.