Sony Group (NYSE:SONY) Hits New 52-Week High – Here’s What Happened

Sony Group Co. (NYSE:SONY)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $20.26 and last traded at $20.25, with a volume of 2432063 shares. The stock had previously closed at $18.27.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. TD Cowen dropped their price objective on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Sony Group has a consensus rating of “Moderate Buy” and a consensus target price of $13.66.

Sony Group Price Performance

The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $120.41 billion, a PE ratio of 18.50 and a beta of 0.95. The firm’s fifty day simple moving average is $12.57 and its 200-day simple moving average is $6.63.

Sony Group (NYSE:SONY) last issued its earnings results on Wednesday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. On average, research analysts forecast that Sony Group Co. will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Pictet North America Advisors SA raised 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 valued at $23,561,000 after purchasing an additional 39,688 shares during the last quarter. Ellsworth Advisors LLC purchased a new position in shares of Sony Group during the second quarter valued at approximately $1,413,000. Diversify Wealth Management LLC raised its holdings in shares of Sony Group by 511.4% during the third quarter. Diversify Wealth Management LLC now owns 50,399 shares of the company’s stock valued at $4,867,000 after purchasing an additional 42,156 shares during the last quarter. Creative Planning raised its holdings in shares of Sony Group by 2.7% during the second quarter. Creative Planning now owns 284,636 shares of the company’s stock valued at $24,180,000 after purchasing an additional 7,401 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Sony Group by 279.8% during the second quarter. Blue Trust Inc. now owns 3,445 shares of the company’s stock valued at $295,000 after purchasing an additional 2,538 shares during the last quarter. 14.05% of the stock is owned by hedge funds and other 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.