Sony Group (NYSE:SONY) Hits New 12-Month High – Here’s What Happened

Sony Group Co. (NYSE:SONY) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $22.04 and last traded at $21.95, with a volume of 697330 shares changing hands. The stock had previously closed at $21.10.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SONY. Daiwa America raised Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. Oppenheimer reduced their price target on Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, TD Cowen reduced their price objective on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $24.00.

Sony Group Trading Up 3.2 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The business has a 50 day moving average of $18.91 and a two-hundred day moving average of $9.07. The firm has a market capitalization of $131.72 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 13.26 and a beta of 0.98.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SONY. Ridgewood Investments LLC acquired a new stake in shares of Sony Group in the 2nd quarter worth about $41,000. Family Firm Inc. bought a new position in shares of Sony Group in the second quarter valued at approximately $44,000. Hobbs Group Advisors LLC purchased a new position in shares of Sony Group during the second quarter valued at approximately $49,000. Hexagon Capital Partners LLC raised its position in Sony Group by 38.6% in the 3rd 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 last quarter. Finally, American National Bank lifted its stake in Sony Group by 11.3% during the 2nd quarter. American National Bank now owns 1,172 shares of the company’s stock valued at $100,000 after acquiring an additional 119 shares in the last quarter. 14.05% of the stock is owned by institutional investors.

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.