Sony Group Co. (NYSE:SONY) Sees Large Drop in Short Interest

Sony Group Co. (NYSE:SONY) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 1,450,000 shares, a decrease of 26.0% from the March 31st total of 1,960,000 shares. Based on an average daily trading volume, of 776,900 shares, the short-interest ratio is presently 1.9 days. Currently, 0.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Macquarie downgraded shares of Sony Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $108.00 price target on shares of Sony Group in a report on Monday, February 26th. TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Finally, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Institutional Investors Weigh In On Sony Group

A number of large investors have recently modified their holdings of SONY. CVA Family Office LLC acquired a new position in Sony Group during the fourth quarter worth about $27,000. Sunbelt Securities Inc. acquired a new position in shares of Sony Group during the 1st quarter worth approximately $29,000. Rise Advisors LLC boosted its holdings in shares of Sony Group by 259.2% during the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after purchasing an additional 254 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Sony Group in the fourth quarter valued at approximately $31,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Sony Group in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Stock Down 0.1 %

SONY stock opened at $82.33 on Friday. Sony Group has a 52 week low of $79.62 and a 52 week high of $100.94. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $85.70 and a 200-day simple moving average of $88.85. The stock has a market capitalization of $101.61 billion, a P/E ratio of 15.89 and a beta of 0.98.

Sony Group (NYSE:SONY) last announced its earnings results on Wednesday, February 14th. The company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.32. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. The business had revenue of $25.38 billion during the quarter, compared to analysts’ expectations of $24.31 billion. Equities analysts forecast that Sony Group will post 5.21 earnings per share for the current fiscal year.

Sony Group Company Profile

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.