Sony Group (NYSE:SONY) Sets New 12-Month High – Here’s What Happened

Shares of Sony Group Co. (NYSE:SONY) hit a new 52-week high during trading on Wednesday . The stock traded as high as $22.86 and last traded at $22.77, with a volume of 156634 shares trading hands. The stock had previously closed at $22.52.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SONY shares. Sanford C. Bernstein began coverage on Sony Group in a research note on Thursday, January 16th. They set an “outperform” rating for the company. StockNews.com downgraded shares of Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. Oppenheimer decreased their price objective on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, TD Cowen cut their target price on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, October 11th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $24.00.

Sony Group Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The stock’s 50 day simple moving average is $21.07 and its two-hundred day simple moving average is $14.20. The company has a market capitalization of $137.98 billion, a P/E ratio of 18.68, a P/E/G ratio of 10.96 and a beta of 0.96.

Institutional Trading of Sony Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its position in shares of Sony Group by 12.7% during the third quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company’s stock worth $834,013,000 after buying an additional 972,075 shares during the period. Cardinal Capital Management Inc. grew its holdings in Sony Group by 403.7% in the 4th quarter. Cardinal Capital Management Inc. now owns 1,606,160 shares of the company’s stock valued at $33,986,000 after buying an additional 1,287,259 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Sony Group in the third quarter valued at approximately $109,462,000. Cambiar Investors LLC increased its position in shares of Sony Group by 548.9% in the fourth quarter. Cambiar Investors LLC now owns 1,059,241 shares of the company’s stock worth $22,414,000 after purchasing an additional 896,013 shares during the period. Finally, Pictet North America Advisors SA raised its position in Sony Group by 333.4% during the fourth quarter. Pictet North America Advisors SA now owns 1,057,404 shares of the company’s stock valued at $22,375,000 after purchasing an additional 813,429 shares in the last quarter. 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.