Sony Group Co. (NYSE:SONY) Short Interest Down 31.8% in May

Sony Group Co. (NYSE:SONY) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 8,260,000 shares, a decrease of 31.8% from the April 30th total of 12,120,000 shares. Based on an average daily trading volume, of 6,360,000 shares, the short-interest ratio is presently 1.3 days. Approximately 0.1% of the company’s stock are short sold.

Sony Group Stock Performance

Shares of SONY opened at $26.37 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The firm has a market cap of $159.48 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 9.95 and a beta of 0.97. The company’s 50 day simple moving average is $24.56 and its 200-day simple moving average is $22.90. Sony Group has a 12-month low of $15.86 and a 12-month high of $26.95.

Analysts Set New Price Targets

A number of research firms recently weighed in on SONY. The Goldman Sachs Group began coverage on shares of Sony Group in a research note on Tuesday, March 25th. They set a “buy” rating on the stock. Wall Street Zen lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Wolfe Research reiterated a “peer perform” rating on shares of Sony Group in a research note on Monday, April 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $33.00 price target (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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sony Group presently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Hedge Funds Weigh In On Sony Group

A number of hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its holdings in shares of Sony Group by 424.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 143,093 shares of the company’s stock worth $3,028,000 after purchasing an additional 115,798 shares during the period. Brighton Jones LLC lifted its holdings in shares of Sony Group by 422.0% during the fourth quarter. Brighton Jones LLC now owns 19,908 shares of the company’s stock worth $421,000 after purchasing an additional 16,094 shares during the period. Blue Trust Inc. lifted its holdings in shares of Sony Group by 64.1% during the fourth quarter. Blue Trust Inc. now owns 9,293 shares of the company’s stock worth $197,000 after purchasing an additional 3,631 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of Sony Group by 55.3% during the fourth quarter. Perigon Wealth Management LLC now owns 15,488 shares of the company’s stock worth $315,000 after purchasing an additional 5,513 shares during the period. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Sony Group by 400.2% during the fourth quarter. Hantz Financial Services Inc. now owns 75,188 shares of the company’s stock worth $1,591,000 after purchasing an additional 60,155 shares during the period. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

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.