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

Sony Group (NYSE:SONY) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Other equities analysts have also issued reports about the stock. TD Cowen decreased their target price on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.30.

Sony Group Price Performance

Shares of Sony Group stock opened at $18.68 on Thursday. Sony Group has a twelve month low of $15.02 and a twelve month high of $20.18. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26. The company has a 50-day simple moving average of $29.33 and a two-hundred day simple moving average of $21.25. The stock has a market capitalization of $23.06 billion, a price-to-earnings ratio of 3.43 and a beta of 0.94.

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, August 7th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The firm had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.42 billion. Analysts forecast that Sony Group will post 0.61 EPS for the current year.

Institutional Investors Weigh In On Sony Group

Several hedge funds and other institutional investors have recently made changes to their positions in SONY. Virtu Financial LLC bought a new stake in shares of Sony Group during the 4th quarter valued at approximately $361,000. HighPoint Advisor Group LLC bought a new stake in Sony Group during the 4th quarter worth approximately $247,000. Mather Group LLC. bought a new stake in Sony Group during the 1st quarter worth approximately $100,000. Rise Advisors LLC grew its holdings in Sony Group by 259.2% during the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after acquiring an additional 254 shares during the last quarter. Finally, BTC Capital Management Inc. bought a new stake in Sony Group during the 1st quarter worth approximately $1,141,000. 14.05% of the stock is owned by 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.