Sony Group (NYSE:SONY) Sets New 12-Month High – Still a Buy?

Shares of Sony Group Co. (NYSE:SONY) reached a new 52-week high during trading on Wednesday . The stock traded as high as $21.00 and last traded at $21.00, with a volume of 50399 shares trading hands. The stock had previously closed at $20.47.

Analysts Set New Price Targets

Several research firms recently commented on SONY. TD Cowen cut their target price on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. Oppenheimer cut their target price on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, StockNews.com lowered shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. One investment 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.com, Sony Group currently has an average rating of “Buy” and a consensus price target of $24.00.

Sony Group Price Performance

The firm has a market cap of $126.70 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 12.67 and a beta of 0.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The stock’s fifty day moving average price is $17.51 and its 200-day moving average price is $8.45.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. American National Bank increased its stake in shares of Sony Group by 11.3% during the 2nd quarter. American National Bank now owns 1,172 shares of the company’s stock worth $100,000 after purchasing an additional 119 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Sony Group by 1.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company’s stock worth $735,000 after purchasing an additional 124 shares during the last quarter. Belpointe Asset Management LLC increased its stake in shares of Sony Group by 1.4% during the 2nd quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock worth $787,000 after purchasing an additional 128 shares during the last quarter. Dynamic Advisor Solutions LLC increased its stake in shares of Sony Group by 1.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,394 shares of the company’s stock worth $713,000 after purchasing an additional 140 shares during the last quarter. Finally, Wealth Alliance increased its stake in shares of Sony Group by 1.2% during the 2nd quarter. Wealth Alliance now owns 11,977 shares of the company’s stock worth $1,017,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds 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.