Sony Group (NYSE:SONY) Shares Gap Up – Here’s What Happened

Sony Group Co. (NYSE:SONY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $22.97, but opened at $23.52. Sony Group shares last traded at $23.02, with a volume of 1,474,922 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SONY. Oppenheimer reissued an “outperform” rating and issued a $33.00 price objective (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Wolfe Research reiterated a “peer perform” rating on shares of Sony Group in a research note on Monday. The Goldman Sachs Group assumed coverage on shares of Sony Group in a research note on Tuesday, March 25th. They set a “buy” rating for the company. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Sanford C. Bernstein began coverage on shares of Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Sony Group Price Performance

The firm has a fifty day moving average of $23.91 and a two-hundred day moving average of $20.84. The stock has a market capitalization of $134.46 billion, a P/E ratio of 18.13, a P/E/G ratio of 9.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

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

Institutional Investors Weigh In On Sony Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners grew its holdings in Sony Group by 401.3% in the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock worth $25,000 after purchasing an additional 927 shares during the last quarter. Capital Analysts LLC grew its stake in Sony Group by 400.0% during the 4th quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after buying an additional 936 shares during the last quarter. General Partner Inc. increased its position in Sony Group by 400.0% during the 4th quarter. General Partner Inc. now owns 1,245 shares of the company’s stock valued at $26,000 after buying an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Sony Group in the fourth quarter valued at about $26,000. Finally, Fairscale Capital LLC boosted its holdings in Sony Group by 400.0% in the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock worth $26,000 after acquiring an additional 992 shares in the last quarter. Institutional investors own 14.05% of the company’s stock.

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.