Sony Group Co. (NYSE:SONY) Short Interest Update

Sony Group Co. (NYSE:SONY) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 7,400,000 shares, a decline of 22.1% from the October 31st total of 9,500,000 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 2,930,000 shares, the days-to-cover ratio is presently 2.5 days.

Sony Group Price Performance

Sony Group stock traded up $0.29 during mid-day trading on Friday, hitting $20.05. 1,247,922 shares of the company traded hands, compared to its average volume of 3,832,401. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. Sony Group has a one year low of $15.02 and a one year high of $20.67. The stock has a market cap of $121.26 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 12.52 and a beta of 0.95. The stock has a fifty day moving average price of $17.19 and a 200-day moving average price of $8.29.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SONY. 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. Oppenheimer decreased their target price on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $24.00.

Institutional Trading of Sony Group

A number of hedge funds have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Sony Group in the second quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of Sony Group in the 2nd quarter valued at $41,000. Family Firm Inc. bought a new position in shares of Sony Group during the 2nd quarter valued at $44,000. Hobbs Group Advisors LLC purchased a new position in Sony Group in the 2nd quarter worth $49,000. Finally, Hexagon Capital Partners LLC lifted its stake in Sony Group by 38.6% in the third quarter. Hexagon Capital Partners LLC now owns 836 shares of the company’s stock worth $81,000 after purchasing an additional 233 shares during 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.