Sony (NYSE:SONY) Shares Gap Down - Time to Sell?

Key Points

• Sony shares gapped down from $29.84 to $28.88, currently trading at $28.85 with a volume of 514,171 shares.
• Despite the decline, Weiss Ratings maintains a "buy" rating with five analysts suggesting a "Buy" and one a "Hold," and an average target price of $28.00.
• In its latest earnings report, Sony surpassed earnings expectations with $0.30 EPS but reported revenue of $17.79 billion, below the consensus estimate of $18.88 billion.

Sony Corporation (NYSE:SONY - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $29.84, but opened at $28.88. Sony shares last traded at $28.85, with a volume of 514,171 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Sony in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Sony has an average rating of "Moderate Buy" and an average target price of $28.00.

Sony Stock Down 4.4%

The business has a 50 day moving average of $28.21 and a 200-day moving average of $26.05. The stock has a market cap of $172.46 billion, a PE ratio of 22.67 and a beta of 0.95. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16.

Sony (NYSE:SONY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.06. The firm had revenue of $17.79 billion for the quarter, compared to the consensus estimate of $18.88 billion. Sony had a return on equity of 13.88% and a net margin of 9.14%.During the same quarter last year, the business posted $189.90 EPS. Sony has set its FY 2025 guidance at EPS. Equities research analysts predict that Sony Corporation will post 1.23 EPS for the current fiscal year.

Institutional Trading of Sony

Hedge funds have recently modified their holdings of the business. QRG Capital Management Inc. lifted its holdings in shares of Sony by 17.6% in the 2nd quarter. QRG Capital Management Inc. now owns 585,467 shares of the company's stock valued at $15,240,000 after buying an additional 87,649 shares during the period. Compound Planning Inc. lifted its holdings in shares of Sony by 18.7% in the 1st quarter. Compound Planning Inc. now owns 97,259 shares of the company's stock valued at $2,469,000 after buying an additional 15,336 shares during the period. BSW Wealth Partners raised its holdings in Sony by 87.0% during the first quarter. BSW Wealth Partners now owns 26,662 shares of the company's stock worth $677,000 after purchasing an additional 12,404 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Sony by 30.6% during the first quarter. Mackenzie Financial Corp now owns 481,381 shares of the company's stock worth $12,222,000 after purchasing an additional 112,746 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in Sony by 18.4% during the first quarter. Ballentine Partners LLC now owns 86,779 shares of the company's stock worth $2,203,000 after purchasing an additional 13,493 shares during the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

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.

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