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

Sony Group Co. (NYSE:SONY)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.00 and last traded at $21.00, with a volume of 50399 shares traded. The stock had previously closed at $20.47.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. TD Cowen dropped their price target on Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. StockNews.com downgraded 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 Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, Daiwa America upgraded Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $24.00.

Sony Group Stock Down 0.4 %

The firm has a 50 day simple moving average of $18.19 and a two-hundred day simple moving average of $8.65. The company has a market capitalization of $126.40 billion, a PE ratio of 17.13, a P/E/G ratio of 12.97 and a beta of 0.98. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Institutional Trading of Sony Group

Institutional investors have recently modified their holdings of the business. Ridgewood Investments LLC purchased a new stake in shares of Sony Group in the second quarter valued at approximately $41,000. Family Firm Inc. purchased a new stake in shares of Sony Group in the second quarter valued at approximately $44,000. Hobbs Group Advisors LLC purchased a new stake in shares of Sony Group in the second quarter valued at approximately $49,000. Hexagon Capital Partners LLC boosted its stake in shares of Sony Group by 38.6% in 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 in the last quarter. Finally, American National Bank boosted its stake in shares of Sony Group by 11.3% in the second quarter. American National Bank now owns 1,172 shares of the company’s stock valued at $100,000 after buying an additional 119 shares in the last quarter. 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.