Sony Group (NYSE:SONY) Shares Gap Up to $83.19

Sony Group Co. (NYSE:SONY) shares gapped up before the market opened on Friday . The stock had previously closed at $83.19, but opened at $85.80. Sony Group shares last traded at $85.25, with a volume of 220,511 shares traded.

Analyst Upgrades and Downgrades

SONY has been the topic of several recent research reports. The Goldman Sachs Group raised Sony Group from a “neutral” rating to a “buy” rating in a report on Wednesday, July 12th. TheStreet downgraded Sony Group from a “b-” rating to a “c+” rating in a research note on Wednesday, August 16th. Finally, StockNews.com started coverage on Sony Group in a research note on Thursday, August 17th. They issued a “hold” rating on the stock.

Sony Group Price Performance

The company has a current ratio of 0.65, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $88.74 and a 200 day simple moving average of $90.35. The stock has a market capitalization of $105.21 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 3.48 and a beta of 1.03.

Hedge Funds Weigh In On Sony Group

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in Sony Group by 76.5% in the first quarter. BlackRock Inc. now owns 2,649,244 shares of the company’s stock valued at $240,154,000 after purchasing an additional 1,148,165 shares during the last quarter. Bank of America Corp DE lifted its stake in Sony Group by 27.2% in the first quarter. Bank of America Corp DE now owns 4,441,241 shares of the company’s stock valued at $402,598,000 after purchasing an additional 949,271 shares during the last quarter. Sculptor Capital LP purchased a new position in Sony Group in the first quarter valued at approximately $47,356,000. Avala Global LP purchased a new stake in shares of Sony Group during the fourth quarter worth $30,332,000. Finally, Fisher Asset Management LLC lifted its position in shares of Sony Group by 5.6% during the second quarter. Fisher Asset Management LLC now owns 5,595,382 shares of the company’s stock worth $503,808,000 after acquiring an additional 295,054 shares in the last quarter. 8.02% 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.