Sony Group (NYSE:SONY) Shares Gap Down to $94.36

Sony Group Co. (NYSE:SONY)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $94.36, but opened at $92.16. Sony Group shares last traded at $91.21, with a volume of 123,917 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Sony Group presently has a consensus rating of “Moderate Buy” and an average target price of $108.00.

Sony Group Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The firm has a 50-day moving average of $90.27 and a 200-day moving average of $86.16. The stock has a market cap of $111.14 billion, a PE ratio of 16.55 and a beta of 0.95.

Shares of Sony Group are set to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. The business had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. Research analysts predict that Sony Group Co. will post 5.63 EPS for the current year.

Hedge Funds Weigh In On Sony Group

Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in Sony Group by 4.7% during the 4th quarter. Wells Fargo & Company MN now owns 532,329 shares of the company’s stock valued at $50,406,000 after buying an additional 23,724 shares in the last quarter. US Bancorp DE grew its holdings in Sony Group by 75.3% during the 4th quarter. US Bancorp DE now owns 128,351 shares of the company’s stock valued at $12,154,000 after buying an additional 55,129 shares in the last quarter. Ethic Inc. grew its holdings in Sony Group by 18.0% during the 4th quarter. Ethic Inc. now owns 119,939 shares of the company’s stock valued at $11,357,000 after buying an additional 18,334 shares in the last quarter. Principal Securities Inc. purchased a new position in Sony Group during the 4th quarter valued at approximately $1,153,000. Finally, Ellsworth Advisors LLC purchased a new position in Sony Group during the 2nd quarter valued at approximately $1,413,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

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.