Sony Group Co. (NYSE:SONY) Short Interest Down 22.1% in November

Sony Group Co. (NYSE:SONY) was the recipient of a large decrease in short interest in November. As of November 15th, there was short interest totalling 7,400,000 shares, a decrease of 22.1% from the October 31st total of 9,500,000 shares. Based on an average daily trading volume, of 2,930,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 0.1% of the company’s shares are short sold.

Sony Group Price Performance

Sony Group stock opened at $19.76 on Friday. The firm has a market capitalization of $119.50 billion, a P/E ratio of 16.17, a PEG ratio of 12.52 and a beta of 0.95. The business has a 50-day moving average of $16.54 and a 200-day moving average of $8.06. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. Sony Group has a 1 year low of $15.02 and a 1 year high of $20.67.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SONY. Oppenheimer decreased their price objective on Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. StockNews.com cut Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. TD Cowen lowered their price target on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Finally, Daiwa America upgraded shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Sony Group has a consensus rating of “Buy” and an average target price of $24.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SONY. Pictet North America Advisors SA boosted its position in shares of Sony Group by 19.4% during the third quarter. Pictet North America Advisors SA now owns 243,975 shares of the company’s stock worth $23,561,000 after purchasing an additional 39,688 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Sony Group by 39.2% during the third quarter. Crossmark Global Holdings Inc. now owns 103,473 shares of the company’s stock worth $9,993,000 after acquiring an additional 29,165 shares in the last quarter. Ellsworth Advisors LLC bought a new stake in shares of Sony Group in the second quarter worth about $1,413,000. Diversify Wealth Management LLC raised its position in shares of Sony Group by 511.4% during the third quarter. Diversify Wealth Management LLC now owns 50,399 shares of the company’s stock worth $4,867,000 after purchasing an additional 42,156 shares during the period. Finally, Creative Planning lifted its holdings in shares of Sony Group by 2.7% during the 2nd quarter. Creative Planning now owns 284,636 shares of the company’s stock valued at $24,180,000 after purchasing an additional 7,401 shares in the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

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.