Sony Corp (NYSE:SNE) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 796,394 shares, a drop of 43.5% from the November 15th total of 1,408,772 shares. Based on an average daily volume of 781,236 shares, the days-to-cover ratio is presently 1.0 days.

Hedge funds have recently modified their holdings of the stock. Raymond James Trust N.A. lifted its holdings in shares of Sony by 1.8% during the second quarter. Raymond James Trust N.A. now owns 6,175 shares of the company’s stock valued at $235,000 after acquiring an additional 111 shares during the period. Fiera Capital Corp lifted its holdings in shares of Sony by 1.8% during the second quarter. Fiera Capital Corp now owns 9,693 shares of the company’s stock valued at $370,000 after acquiring an additional 175 shares during the period. Earnest Partners LLC lifted its holdings in shares of Sony by 1.4% during the second quarter. Earnest Partners LLC now owns 15,377 shares of the company’s stock valued at $587,000 after acquiring an additional 208 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of Sony by 1.8% during the second quarter. Cubist Systematic Strategies LLC now owns 13,135 shares of the company’s stock valued at $502,000 after acquiring an additional 231 shares during the period. Finally, San Francisco Sentry Investment Group CA lifted its holdings in shares of Sony by 2.8% during the second quarter. San Francisco Sentry Investment Group CA now owns 10,900 shares of the company’s stock valued at $416,000 after acquiring an additional 300 shares during the period. 6.77% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently commented on SNE. Credit Suisse Group cut Sony from an “outperform” rating to a “neutral” rating in a research report on Tuesday, September 19th. Morgan Stanley cut Sony from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 11th. Jefferies Group reaffirmed a “buy” rating and issued a $59.84 target price on shares of Sony in a research report on Friday, November 17th. Citigroup cut Sony from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $40.60 to $39.93 in a research report on Monday, September 11th. Finally, Zacks Investment Research cut 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 given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $46.94.

Sony (NYSE SNE) opened at $45.34 on Wednesday. The company has a market capitalization of $57,490.00, a price-to-earnings ratio of 25.19 and a beta of 1.78. Sony has a 12-month low of $27.91 and a 12-month high of $48.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.71.

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About Sony

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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