Shares of Sony Corp (NYSE:SNE) gapped down prior to trading on Friday . The stock had previously closed at $47.74, but opened at $46.80. Sony shares last traded at $45.56, with a volume of 2193249 shares changing hands.

SNE has been the subject of several recent research reports. Citigroup downgraded shares of Sony from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $40.60 to $39.93 in a research report on Monday, September 11th. Jefferies Group reaffirmed a “buy” rating and issued a $45.74 price objective on shares of Sony in a research report on Tuesday, October 24th. Morgan Stanley downgraded shares of Sony from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 11th. Credit Suisse Group downgraded shares of Sony from an “outperform” rating to a “neutral” rating in a research report on Tuesday, September 19th. Finally, Zacks Investment Research downgraded shares of Sony from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $46.94.

The company has a quick ratio of 0.71, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $57,567.66, a PE ratio of 25.60 and a beta of 1.78.

Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of Sony by 105.6% during the second quarter. Bank of New York Mellon Corp now owns 816,725 shares of the company’s stock worth $31,191,000 after buying an additional 419,493 shares in the last quarter. Allen Investment Management LLC grew its position in shares of Sony by 60.5% during the second quarter. Allen Investment Management LLC now owns 20,132 shares of the company’s stock worth $769,000 after buying an additional 7,590 shares in the last quarter. Athos Capital Ltd grew its position in shares of Sony by 280.0% during the third quarter. Athos Capital Ltd now owns 34,200 shares of the company’s stock worth $2,937,000 after buying an additional 25,200 shares in the last quarter. Columbia Asset Management grew its position in shares of Sony by 11.8% during the second quarter. Columbia Asset Management now owns 33,870 shares of the company’s stock worth $1,293,000 after buying an additional 3,575 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Sony during the third quarter worth approximately $1,650,000. 6.78% of the stock is owned by institutional investors and hedge funds.

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Sony Company Profile

Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other.

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