StockNews.com Upgrades Sony Group (NYSE:SONY) to “Strong-Buy”

Sony Group (NYSE:SONY) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “strong-buy” rating in a report released on Monday.

Several other research analysts have also weighed in on the company. TD Cowen cut their target price on Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Daiwa America upgraded Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $24.00.

Sony Group Trading Down 2.3 %

Sony Group stock opened at $18.68 on Monday. The stock has a 50-day moving average price of $12.87 and a 200 day moving average price of $6.76. Sony Group has a 52 week low of $15.02 and a 52 week high of $20.67. The stock has a market cap of $112.97 billion, a PE ratio of 15.31 and a beta of 0.95. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.26.

Institutional Investors Weigh In On Sony Group

Institutional investors have recently bought and sold shares of the stock. Pitcairn Co. grew its position in Sony Group by 9.5% in the third quarter. Pitcairn Co. now owns 30,536 shares of the company’s stock worth $2,949,000 after buying an additional 2,641 shares during the last quarter. Canopy Partners LLC acquired a new position in shares of Sony Group in the 3rd quarter worth $219,000. Cerity Partners LLC raised its position in shares of Sony Group by 35.4% during the third quarter. Cerity Partners LLC now owns 149,946 shares of the company’s stock worth $14,480,000 after purchasing an additional 39,208 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of Sony Group by 9.5% during the third quarter. Raymond James Trust N.A. now owns 13,811 shares of the company’s stock valued at $1,334,000 after purchasing an additional 1,199 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its position in shares of Sony Group by 456.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 27,604 shares of the company’s stock valued at $2,666,000 after purchasing an additional 22,642 shares during the period. Institutional investors and hedge funds own 14.05% of the company’s stock.

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.