Sony Group (NYSE:SONY) Sees Unusually-High Trading Volume – Here’s What Happened

Sony Group Co. (NYSE:SONY) saw unusually-strong trading volume on Friday . Approximately 2,118,368 shares were traded during mid-day 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.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SONY. Oppenheimer reduced 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. StockNews.com lowered shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. TD Cowen dropped their target price on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a report on Friday, October 11th. 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, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $24.00.

Sony Group Stock Down 2.0 %

The firm has a market capitalization of $123.13 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 13.74 and a beta of 0.95. The firm’s 50-day moving average is $20.26 and its 200 day moving average is $12.04. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66.

Institutional Trading of Sony Group

Several large investors have recently modified their holdings of the business. Wealth Alliance lifted its stake in Sony Group by 1.2% in the 2nd quarter. Wealth Alliance now owns 11,977 shares of the company’s stock valued at $1,017,000 after buying an additional 141 shares in the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Sony Group by 1.8% in the second quarter. Johnson Investment Counsel Inc. now owns 8,346 shares of the company’s stock valued at $709,000 after acquiring an additional 146 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Sony Group by 4.6% during the second quarter. Blair William & Co. IL now owns 4,803 shares of the company’s stock valued at $408,000 after acquiring an additional 212 shares during the last quarter. Hexagon Capital Partners LLC increased its position in 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 purchasing an additional 233 shares in the last quarter. Finally, Wedmont Private Capital raised its stake in Sony Group by 12.9% in the 3rd quarter. Wedmont Private Capital now owns 2,767 shares of the company’s stock valued at $265,000 after purchasing an additional 316 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony Group Company Profile

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.