Sony Group (NYSE:SONY) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Sony Group (NYSE:SONY) from a strong-buy rating to a buy rating in a report released on Tuesday.

Other research analysts have also issued reports about the company. TD Cowen lowered their price objective 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 lowered their target price on Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, Daiwa America raised Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $24.00.

Sony Group Price Performance

Shares of NYSE:SONY opened at $19.07 on Tuesday. The company has a market cap of $115.33 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 11.98 and a beta of 0.95. Sony Group has a one year low of $15.02 and a one year high of $20.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The firm has a 50 day simple moving average of $15.28 and a 200 day simple moving average of $7.57.

Institutional Trading of Sony Group

Several institutional investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Sony Group during the second quarter valued at about $26,000. Ridgewood Investments LLC bought a new position in Sony Group during the 2nd quarter valued at approximately $41,000. Family Firm Inc. purchased a new stake in Sony Group in the 2nd quarter worth approximately $44,000. Hobbs Group Advisors LLC bought a new stake in shares of Sony Group in the 2nd quarter worth approximately $49,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Sony Group by 38.6% during the third quarter. Hexagon Capital Partners LLC now owns 836 shares of the company’s stock valued at $81,000 after buying an additional 233 shares during the period. 14.05% of the stock is currently owned by hedge funds and other 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.