Sony Group (NYSE:SONY) Stock Price Down 2.6%

Shares of Sony Group Co. (NYSE:SONY) traded down 2.6% during mid-day trading on Tuesday . The company traded as low as $90.61 and last traded at $90.69. 41,278 shares changed hands during trading, a decline of 95% from the average session volume of 821,759 shares. The stock had previously closed at $93.11.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SONY. Daiwa America upgraded Sony Group to a “strong-buy” rating in a report on Wednesday. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Sony Group presently has an average rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group Stock Down 0.1 %

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 market capitalization of $111.68 billion, a price-to-earnings ratio of 16.63 and a beta of 0.95. The business’s 50-day moving average is $91.05 and its 200-day moving average is $86.47.

Sony Group’s stock is going 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 payable to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY) last posted its earnings results on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. The firm had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.42 billion. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. As a group, equities analysts predict that Sony Group Co. will post 5.63 earnings per share for the current year.

Hedge Funds Weigh In On Sony Group

Several large investors have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Sony Group in the second quarter worth about $26,000. Sunbelt Securities Inc. purchased a new stake in shares of Sony Group in the first quarter valued at approximately $29,000. Rise Advisors LLC raised its stake in shares of 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 buying an additional 254 shares during the period. Ridgewood Investments LLC purchased a new position in shares of Sony Group during the 2nd quarter valued at approximately $41,000. Finally, Family Firm Inc. purchased a new position in shares of Sony Group during the 2nd quarter valued at approximately $44,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

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.