Sony (NYSE:SONY) Shares Down 4.3% - Here's What Happened

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SONY shares. Wolfe Research restated a "peer perform" rating on shares of Sony in a report on Monday, April 7th. Wall Street Zen cut shares of Sony from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Oppenheimer reissued an "outperform" rating and set a $33.00 price objective (up from $25.00) on shares of Sony in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group started coverage on shares of Sony in a research note on Tuesday, March 25th. They issued a "buy" rating on the stock. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Sony Stock Performance

The company has a quick ratio of 0.57, a current ratio of 0.70 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $25.33 and a 200 day moving average of $23.55. The company has a market capitalization of $149.94 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 12.44 and a beta of 0.96.

Institutional Trading of Sony

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital Analysts LLC raised its holdings in shares of Sony by 400.0% in the fourth quarter. Capital Analysts LLC now owns 1,170 shares of the company's stock valued at $25,000 after acquiring an additional 936 shares in the last quarter. Fairscale Capital LLC boosted its stake in shares of Sony by 400.0% during the fourth quarter. Fairscale Capital LLC now owns 1,240 shares of the company's stock valued at $26,000 after purchasing an additional 992 shares in the last quarter. Accent Capital Management LLC increased its holdings in Sony by 400.0% during the fourth quarter. Accent Capital Management LLC now owns 1,380 shares of the company's stock valued at $29,000 after buying an additional 1,104 shares during the period. City Holding Co. purchased a new position in Sony during the first quarter valued at approximately $30,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in Sony in the first quarter worth approximately $31,000. 14.05% of the stock is currently owned by institutional investors.

About Sony

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.

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