Sony Group (NYSE:SONY) Sees Unusually-High Trading Volume – Time to Buy?

Sony Group Co. (NYSE:SONY) shares saw unusually-high trading volume on Monday . Approximately 10,307,996 shares changed hands during trading, an increase of 165% from the previous session’s volume of 3,892,562 shares.The stock last traded at $25.16 and had previously closed at $25.23.

Analysts Set New Price Targets

SONY has been the subject of a number of analyst reports. Oppenheimer reissued an “outperform” rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group started coverage on shares of Sony Group in a research report on Tuesday. They set a “buy” rating on the stock. Finally, Sanford C. Bernstein started coverage on shares of Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $28.00.

Sony Group Price Performance

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 $152.64 billion, a PE ratio of 20.49, a PEG ratio of 9.95 and a beta of 0.91. The stock has a 50-day moving average price of $23.28 and a 200 day moving average price of $19.26.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.27 by $0.14. The company had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. Equities analysts forecast that Sony Group Co. will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Silicon Valley Capital Partners raised its holdings in shares of Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock valued at $25,000 after acquiring an additional 927 shares during the last quarter. Capital Analysts LLC increased its position in shares of Sony Group by 400.0% during the fourth quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after purchasing an additional 936 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Sony Group in the 4th quarter valued at $26,000. Fairscale Capital LLC lifted its holdings in Sony Group by 400.0% in the 4th quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock valued at $26,000 after purchasing an additional 992 shares in the last quarter. Finally, General Partner Inc. boosted its stake in Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company’s stock worth $26,000 after purchasing an additional 996 shares during the last quarter. 14.05% of the stock is owned by hedge funds and other 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.