Sony Group (NYSE:SONY) Downgraded to "Hold" Rating by Wall Street Zen

Wall Street Zen lowered shares of Sony Group (NYSE:SONY - Free Report) from a buy rating to a hold rating in a report published on Thursday.

A number of other research firms have also commented on SONY. The Goldman Sachs Group assumed coverage on shares of Sony Group in a research note on Tuesday, March 25th. They issued a "buy" rating on the stock. Wolfe Research restated a "peer perform" rating on shares of Sony Group in a research note on Monday, April 7th. Finally, Oppenheimer restated an "outperform" rating and issued a $33.00 price objective (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Two research 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. According to data from MarketBeat, Sony Group presently has a consensus rating of "Moderate Buy" and an average target price of $28.00.

Sony Group Stock Performance

NYSE SONY traded up $1.01 during trading on Thursday, reaching $26.54. The company's stock had a trading volume of 6,985,507 shares, compared to its average volume of 4,313,372. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The firm has a market cap of $160.51 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 9.95 and a beta of 0.97. Sony Group has a twelve month low of $15.67 and a twelve month high of $26.60. The business's fifty day moving average price is $24.49 and its 200-day moving average price is $22.74.

Institutional Trading of Sony Group

Several large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. grew its position in shares of Sony Group by 33.8% in the first quarter. Geneos Wealth Management Inc. now owns 9,239 shares of the company's stock valued at $235,000 after purchasing an additional 2,333 shares during the last quarter. Fortis Capital Advisors LLC acquired a new stake in shares of Sony Group in the first quarter valued at approximately $850,000. Belpointe Asset Management LLC boosted its position in Sony Group by 662.9% during the first quarter. Belpointe Asset Management LLC now owns 63,744 shares of the company's stock worth $1,618,000 after acquiring an additional 55,388 shares during the last quarter. Focus Partners Wealth boosted its position in Sony Group by 0.7% during the first quarter. Focus Partners Wealth now owns 158,578 shares of the company's stock worth $4,026,000 after acquiring an additional 1,111 shares during the last quarter. Finally, Integrity Alliance LLC. acquired a new stake in Sony Group during the first quarter worth approximately $1,324,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

About Sony Group

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.