Sony Group (NYSE:SONY) Lowered to Buy Rating by StockNews.com

StockNews.com cut shares of Sony Group (NYSE:SONY) from a strong-buy rating to a buy rating in a report issued on Tuesday.

SONY has been the subject of a number of other research reports. Daiwa America raised Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. 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. Finally, Oppenheimer reduced their price objective on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sony Group presently has a consensus rating of “Buy” and a consensus price target of $24.00.

Sony Group Stock Down 0.6 %

NYSE:SONY opened at $19.07 on Tuesday. The firm has a 50-day simple moving average of $15.28 and a two-hundred day simple moving average of $7.57. The firm has a market cap of $115.33 billion, a P/E ratio of 15.61, a P/E/G ratio of 11.98 and a beta of 0.95. Sony Group has a fifty-two week low of $15.02 and a fifty-two week high of $20.67. 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 Inflows and Outflows

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