Sony (NYSE:SONY) Trading Down 4.3% - Time to Sell?

Sony Corporation (NYSE:SONY - Get Free Report) dropped 4.3% during mid-day trading on Friday . The company traded as low as $24.77 and last traded at $24.76. Approximately 1,276,136 shares changed hands during trading, a decline of 76% from the average daily volume of 5,390,514 shares. The stock had previously closed at $25.88.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wall Street Zen cut Sony from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group began coverage on Sony in a research report on Tuesday, March 25th. They issued a "buy" rating for the company. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Sony in a research report on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Sony presently has an average rating of "Moderate Buy" and an average target price of $28.00.

Sony Stock Down 1.3%

The stock has a market capitalization of $147.68 billion, a P/E ratio of 19.79, a PEG ratio of 11.92 and a beta of 0.96. The stock has a 50 day moving average price of $25.36 and a 200-day moving average price of $23.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.70 and a quick ratio of 0.57.

Hedge Funds Weigh In On Sony

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Investment Advisory Services LLC grew its holdings in shares of Sony by 3.1% in the first quarter. Capital Investment Advisory Services LLC now owns 12,977 shares of the company's stock worth $329,000 after purchasing an additional 392 shares during the last quarter. Stonegate Investment Group LLC increased its position in shares of Sony by 2.6% in the first quarter. Stonegate Investment Group LLC now owns 16,898 shares of the company's stock valued at $429,000 after acquiring an additional 433 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of Sony by 9.0% during the first quarter. Hexagon Capital Partners LLC now owns 5,333 shares of the company's stock valued at $135,000 after acquiring an additional 442 shares during the last quarter. First Foundation Advisors boosted its holdings in shares of Sony by 3.4% during the first quarter. First Foundation Advisors now owns 14,543 shares of the company's stock worth $369,000 after purchasing an additional 478 shares during the period. Finally, Naviter Wealth LLC grew its stake in shares of Sony by 0.4% in the first quarter. Naviter Wealth LLC now owns 138,840 shares of the company's stock worth $3,483,000 after purchasing an additional 530 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors.

Sony 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.