Short Interest in Sony Group Co. (NYSE:SONY) Declines By 22.1%

Sony Group Co. (NYSE:SONY) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 7,400,000 shares, a drop of 22.1% from the October 31st total of 9,500,000 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,930,000 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Trading of Sony Group

Large investors have recently added to or reduced their stakes in the company. Pictet North America Advisors SA grew its holdings in shares of Sony Group by 19.4% during the third quarter. Pictet North America Advisors SA now owns 243,975 shares of the company’s stock valued at $23,561,000 after buying an additional 39,688 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Sony Group by 39.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 103,473 shares of the company’s stock valued at $9,993,000 after buying an additional 29,165 shares during the last quarter. Ellsworth Advisors LLC bought a new stake in shares of Sony Group in the 2nd quarter valued at approximately $1,413,000. Diversify Wealth Management LLC increased its holdings in Sony Group by 511.4% in the third quarter. Diversify Wealth Management LLC now owns 50,399 shares of the company’s stock worth $4,867,000 after buying an additional 42,156 shares during the last quarter. Finally, Creative Planning raised its position in Sony Group by 2.7% during the second quarter. Creative Planning now owns 284,636 shares of the company’s stock valued at $24,180,000 after acquiring an additional 7,401 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Trading Up 1.5 %

Shares of SONY stock traded up $0.29 during trading hours on Friday, reaching $20.05. 1,247,922 shares of the stock traded hands, compared to its average volume of 3,053,190. The business has a fifty day moving average price of $17.19 and a 200 day moving average price of $8.29. Sony Group has a 1-year low of $15.02 and a 1-year high of $20.67. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $121.26 billion, a PE ratio of 16.41, a PEG ratio of 12.70 and a beta of 0.95.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SONY shares. StockNews.com lowered shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Oppenheimer decreased their price target on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Daiwa America upgraded Sony Group to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, TD Cowen decreased their target price on Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $24.00.

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.