Sony Group (NYSE:SONY) Shares Gap Down – Time to Sell?

Shares of Sony Group Co. (NYSE:SONY) gapped down prior to trading on Friday . The stock had previously closed at $22.38, but opened at $21.87. Sony Group shares last traded at $21.82, with a volume of 266,980 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. StockNews.com cut Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research report on Wednesday, September 18th. Oppenheimer decreased their price objective on Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, TD Cowen dropped their target price on Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a report on Friday, October 11th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $24.00.

Sony Group Stock Down 3.1 %

The firm has a market cap of $131.17 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 14.04 and a beta of 0.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The business’s 50-day moving average is $19.14 and its 200-day moving average is $9.55.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Synovus Financial Corp increased its holdings in Sony Group by 2.4% during the 3rd quarter. Synovus Financial Corp now owns 50,514 shares of the company’s stock valued at $4,878,000 after purchasing an additional 1,177 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Sony Group in the third quarter valued at $244,000. Wilmington Savings Fund Society FSB bought a new position in shares of Sony Group in the third quarter valued at about $287,000. World Investment Advisors LLC acquired a new position in Sony Group during the 3rd quarter worth about $2,073,000. Finally, Sanctuary Advisors LLC grew its holdings in Sony Group by 601.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 257,329 shares of the company’s stock worth $24,850,000 after acquiring an additional 220,628 shares during the last quarter. 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.