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

Shares of Sony Group Co. (NYSE:SONY) saw strong trading volume on Monday . 4,877,318 shares traded hands during trading, an increase of 20% from the previous session’s volume of 4,070,174 shares.The stock last traded at $24.40 and had previously closed at $24.10.

Analyst Ratings Changes

A number of analysts have commented on the stock. Sanford C. Bernstein assumed coverage on shares of Sony Group in a research note on Thursday, January 16th. They set an “outperform” rating for the company. Oppenheimer restated an “outperform” rating and set a $33.00 price target (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Finally, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Sony Group currently has an average rating of “Buy” and a consensus price target of $28.00.

Sony Group Stock Up 0.2 %

The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $148.55 billion, a PE ratio of 19.94, a P/E/G ratio of 9.95 and a beta of 0.91. The stock’s fifty day simple moving average is $22.81 and its 200-day simple moving average is $18.51.

Sony Group (NYSE:SONY) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.14. The firm had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. As a group, sell-side analysts forecast that Sony Group Co. will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Sony Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Y.D. More Investments Ltd boosted its holdings in shares of Sony Group by 400.0% in the 4th quarter. Y.D. More Investments Ltd now owns 36,065 shares of the company’s stock worth $763,000 after buying an additional 28,852 shares during the last quarter. Bfsg LLC purchased a new stake in Sony Group during the fourth quarter valued at about $6,125,000. Fifth Third Bancorp lifted its holdings in Sony Group by 311.3% during the fourth quarter. Fifth Third Bancorp now owns 157,702 shares of the company’s stock valued at $3,337,000 after purchasing an additional 119,362 shares during the last quarter. West Family Investments Inc. increased its position in shares of Sony Group by 392.9% during the fourth quarter. West Family Investments Inc. now owns 26,725 shares of the company’s stock valued at $566,000 after buying an additional 21,303 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC increased its position in shares of Sony Group by 430.0% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock valued at $854,000 after buying an additional 32,725 shares during the period. 14.05% of the stock is 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.