Sony Group (NYSE:SONY) Sees Strong Trading Volume – What’s Next?

Shares of Sony Group Co. (NYSE:SONY) saw strong trading volume on Monday . 10,307,996 shares changed hands during mid-day trading, an increase of 165% from the previous session’s volume of 3,892,562 shares.The stock last traded at $25.16 and had previously closed at $25.23.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Sanford C. Bernstein started coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. Finally, Oppenheimer restated an “outperform” rating and set a $33.00 price target (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. One equities research 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 currently has an average rating of “Buy” and a consensus price target of $28.00.

Sony Group Price Performance

The firm’s 50-day moving average is $23.08 and its 200-day moving average is $18.95. The company has a market capitalization of $152.22 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. Equities analysts predict that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of Sony Group

Several hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its stake in Sony Group by 427.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 101,311 shares of the company’s stock worth $2,144,000 after purchasing an additional 82,097 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Sony Group by 693.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 55,186 shares of the company’s stock valued at $1,168,000 after acquiring an additional 48,227 shares during the last quarter. Integrated Advisors Network LLC raised its stake in shares of Sony Group by 364.1% during the fourth quarter. Integrated Advisors Network LLC now owns 22,432 shares of the company’s stock valued at $475,000 after acquiring an additional 17,599 shares during the last quarter. Challenger Wealth Management bought a new position in shares of Sony Group during the fourth quarter valued at about $286,000. Finally, Mackenzie Financial Corp bought a new position in shares of Sony Group during the fourth quarter valued at about $7,800,000. 14.05% of the stock is 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.