Sony Group (NYSE:SONY) Sees Large Volume Increase – Time to Buy?

Sony Group Co. (NYSE:SONY) shares saw strong trading volume on Tuesday . 6,071,467 shares were traded during mid-day trading, an increase of 52% from the previous session’s volume of 3,994,117 shares.The stock last traded at $24.76 and had previously closed at $25.39.

Analysts Set New Price Targets

SONY has been the subject of a number of research analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 target price (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. The Goldman Sachs Group started coverage on Sony Group in a research report on Tuesday, March 25th. They set a “buy” rating on the stock. Sanford C. Bernstein initiated coverage on shares of Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $28.00.

Sony Group Price Performance

The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $23.68 and a 200 day simple moving average of $19.87. The stock has a market capitalization of $151.95 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The business had revenue of $28.95 billion during the quarter, compared to analyst estimates of $24.32 billion. On average, analysts expect that Sony Group Co. will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Sony Group by 25.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 79,211 shares of the company’s stock worth $7,649,000 after buying an additional 16,073 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in Sony Group in the third quarter worth $201,000. Financial Counselors Inc. purchased a new position in Sony Group in the third quarter worth $203,000. Benjamin Edwards Inc. bought a new stake in shares of Sony Group during the 3rd quarter worth $403,000. Finally, Hilltop Holdings Inc. boosted its holdings in shares of Sony Group by 44.0% in the 3rd quarter. Hilltop Holdings Inc. now owns 6,471 shares of the company’s stock worth $625,000 after buying an additional 1,977 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

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.