Sony Group (NYSE:SONY) Shares Gap Down – What’s Next?

Sony Group Co. (NYSE:SONY) gapped down before the market opened on Friday . The stock had previously closed at $21.37, but opened at $20.81. Sony Group shares last traded at $20.84, with a volume of 941,760 shares traded.

Analysts Set New Price Targets

Several analysts have recently commented on SONY shares. Sanford C. Bernstein began coverage on Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. Oppenheimer decreased their price objective on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. TD Cowen lowered their price target 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. Finally, StockNews.com lowered Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sony Group has a consensus rating of “Buy” and an average price target of $24.00.

Sony Group Trading Down 2.2 %

The stock has a market cap of $126.43 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 13.02 and a beta of 0.95. The company has a 50 day moving average of $20.63 and a two-hundred day moving average of $13.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66.

Institutional Investors Weigh In On Sony Group

Institutional investors have recently bought and sold shares of the company. Pictet North America Advisors SA grew its holdings in shares of Sony Group by 19.4% during the third quarter. Pictet North America Advisors SA now owns 243,975 shares of the company’s stock worth $23,561,000 after buying an additional 39,688 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its position in shares of Sony Group by 430.0% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock worth $854,000 after buying an additional 32,725 shares during the period. Crossmark Global Holdings Inc. grew its stake in Sony Group by 39.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 103,473 shares of the company’s stock worth $9,993,000 after purchasing an additional 29,165 shares in the last quarter. Diversify Wealth Management LLC lifted its stake in Sony Group by 511.4% during the third quarter. Diversify Wealth Management LLC now owns 50,399 shares of the company’s stock worth $4,867,000 after purchasing an additional 42,156 shares during the last quarter. Finally, Confluence Investment Management LLC grew its position in shares of Sony Group by 401.5% during the fourth quarter. Confluence Investment Management LLC now owns 43,135 shares of the company’s stock worth $913,000 after acquiring an additional 34,533 shares during the last quarter. 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.