Sony (NYSE:SONY) Reaches New 12-Month Low – Should You Sell?

Sony Corporation (NYSE:SONYGet Free Report)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $19.74 and last traded at $19.7430, with a volume of 3635507 shares trading hands. The stock had previously closed at $19.97.

Trending Headlines about Sony

Here are the key news stories impacting Sony this week:

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Zacks Research lowered shares of Sony from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings lowered shares of Sony from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 20th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $22.00 price target (down from $30.00) on shares of Sony in a research report on Tuesday, March 17th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sony currently has a consensus rating of “Hold” and a consensus target price of $22.00.

View Our Latest Stock Report on Sony

Sony Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.22 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $21.09 and its two-hundred day simple moving average is $24.42. The stock has a market cap of $117.82 billion, a price-to-earnings ratio of -99.02, a P/E/G ratio of 6.60 and a beta of 0.98.

Institutional Trading of Sony

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its position in shares of Sony by 37.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 171,616 shares of the company’s stock worth $3,552,000 after buying an additional 46,450 shares during the period. Independence Bank of Kentucky grew its position in shares of Sony by 1,892.0% during the 1st quarter. Independence Bank of Kentucky now owns 5,000 shares of the company’s stock worth $104,000 after buying an additional 4,749 shares during the period. Hsbc Holdings PLC grew its position in shares of Sony by 22.1% during the 1st quarter. Hsbc Holdings PLC now owns 15,836 shares of the company’s stock worth $327,000 after buying an additional 2,870 shares during the period. Whipplewood Advisors LLC acquired a new position in shares of Sony during the 1st quarter worth about $32,000. Finally, Jackson Thornton Wealth Management LLC acquired a new position in shares of Sony during the 1st quarter worth about $204,000. 14.05% of the stock is owned by institutional investors.

About Sony

(Get Free Report)

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.

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