Sony Group Co. (NYSE:SONY) Short Interest Up 21.6% in February

Sony Group Co. (NYSE:SONY) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 9,190,000 shares, a growth of 21.6% from the January 31st total of 7,560,000 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 3,630,000 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analysts Forecast Growth

SONY has been the topic of several recent research reports. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Oppenheimer reiterated an “outperform” rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Finally, Sanford C. Bernstein started coverage on shares of Sony Group in a research note on Thursday, January 16th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $28.00.

Institutional Investors Weigh In On Sony Group

Several large investors have recently modified their holdings of the company. Fiduciary Trust Co boosted its stake in Sony Group by 13.4% during the third quarter. Fiduciary Trust Co now owns 4,965 shares of the company’s stock worth $479,000 after acquiring an additional 585 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Sony Group by 14.9% in the third quarter. First Horizon Advisors Inc. now owns 4,629 shares of the company’s stock valued at $447,000 after buying an additional 599 shares in the last quarter. West Family Investments Inc. lifted its stake in shares of Sony Group by 13.0% in the third quarter. West Family Investments Inc. now owns 5,422 shares of the company’s stock valued at $524,000 after buying an additional 623 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Sony Group by 106.2% in the third quarter. Brown Brothers Harriman & Co. now owns 1,390 shares of the company’s stock valued at $134,000 after buying an additional 716 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Sony Group by 23.2% in the third quarter. Coldstream Capital Management Inc. now owns 3,993 shares of the company’s stock valued at $352,000 after buying an additional 751 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony Group Price Performance

SONY stock traded up $0.11 during trading on Thursday, reaching $24.45. 6,194,770 shares of the company were exchanged, compared to its average volume of 3,653,730. The company has a 50-day moving average of $22.33 and a two-hundred day moving average of $17.14. The company has a market capitalization of $147.84 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 9.95 and a beta of 0.91. Sony Group has a twelve month low of $15.02 and a twelve month high of $25.64. 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 announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. The firm had revenue of $28.95 billion during the quarter, compared to analysts’ expectations of $24.32 billion. As a group, equities analysts predict that Sony Group will post 1.23 earnings per share for the current fiscal year.

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.