Sony Group (NYSE:SONY) Hits New 52-Week High – Time to Buy?

Sony Group Co. (NYSE:SONY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.86 and last traded at $22.77, with a volume of 156634 shares changing hands. The stock had previously closed at $22.52.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Sanford C. Bernstein began coverage on shares of Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating on the stock. Oppenheimer reduced their target price on Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. TD Cowen dropped their price objective on Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, StockNews.com cut Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sony Group presently has an average rating of “Buy” and a consensus target price of $24.00.

Sony Group Stock Performance

The business has a fifty day moving average of $21.07 and a 200 day moving average of $14.20. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The company has a market cap of $137.98 billion, a P/E ratio of 18.68, a P/E/G ratio of 10.96 and a beta of 0.96.

Hedge Funds Weigh In On Sony Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Hexagon Capital Partners LLC raised its holdings in Sony Group by 38.6% during the third quarter. Hexagon Capital Partners LLC now owns 836 shares of the company’s stock valued at $81,000 after buying an additional 233 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Sony Group by 12.9% in the third quarter. Wedmont Private Capital now owns 2,767 shares of the company’s stock worth $265,000 after acquiring an additional 316 shares during the last quarter. Fiduciary Trust Co increased its position 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 during the period. First Horizon Advisors Inc. raised its stake in Sony Group by 14.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 4,629 shares of the company’s stock valued at $447,000 after purchasing an additional 599 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC boosted its holdings in Sony Group by 8.9% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 7,611 shares of the company’s stock valued at $735,000 after purchasing an additional 619 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

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.