Sony Group (NYSE:SONY) Shares Gap Down – Should You Sell?

Sony Group Co. (NYSE:SONY) gapped down before the market opened on Friday . The stock had previously closed at $21.37, but opened at $20.81. Sony Group shares last traded at $20.84, with a volume of 941,760 shares traded.

Analyst Upgrades and Downgrades

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

Sony Group Price Performance

The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The stock has a market cap of $126.43 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 13.02 and a beta of 0.95. The business has a 50-day simple moving average of $20.63 and a 200 day simple moving average of $13.05.

Institutional Investors Weigh In On Sony Group

A number of large investors have recently bought and sold shares of the stock. Pictet North America Advisors SA increased its position in Sony Group by 19.4% in the 3rd quarter. Pictet North America Advisors SA now owns 243,975 shares of the company’s stock valued at $23,561,000 after buying an additional 39,688 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its position in shares of Sony Group by 430.0% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,336 shares of the company’s stock worth $854,000 after purchasing an additional 32,725 shares during the period. Crossmark Global Holdings Inc. grew its position in Sony Group by 39.2% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 103,473 shares of the company’s stock valued at $9,993,000 after purchasing an additional 29,165 shares during the period. Diversify Wealth Management LLC increased its stake in Sony Group by 511.4% during the 3rd 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 in the last quarter. Finally, Confluence Investment Management LLC raised its holdings in Sony Group by 401.5% during the fourth quarter. Confluence Investment Management LLC now owns 43,135 shares of the company’s stock worth $913,000 after buying an additional 34,533 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

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.