Sony (NYSE:SONY) Shares Gap Up – Here’s What Happened

Sony Corporation (NYSE:SONY) shares gapped up before the market opened on Tuesday . The stock had previously closed at $27.97, but opened at $29.42. Sony shares last traded at $28.7360, with a volume of 2,386,449 shares traded.

Analyst Ratings Changes

A number of research firms have recently weighed in on SONY. Zacks Research upgraded shares of Sony from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sony in a report on Wednesday, October 8th. Cfra Research upgraded Sony to a “moderate buy” rating in a research report on Friday, October 10th. Finally, Wolfe Research upgraded Sony from a “peer perform” rating to an “outperform” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat, Sony presently has a consensus rating of “Buy” and a consensus price target of $33.00.

Sony Trading Up 4.2%

The company’s fifty day simple moving average is $28.76 and its 200-day simple moving average is $26.82. The firm has a market capitalization of $176.33 billion, a PE ratio of 23.17 and a beta of 0.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.09 and a quick ratio of 1.03.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SONY. HighPoint Advisor Group LLC raised its position in Sony by 2.8% during the third quarter. HighPoint Advisor Group LLC now owns 13,670 shares of the company’s stock valued at $394,000 after buying an additional 367 shares during the period. Checchi Capital Advisers LLC lifted its position in shares of Sony by 1.3% in the third quarter. Checchi Capital Advisers LLC now owns 30,408 shares of the company’s stock worth $875,000 after purchasing an additional 391 shares in the last quarter. Highline Wealth Partners LLC boosted its holdings in shares of Sony by 46.7% during the third quarter. Highline Wealth Partners LLC now owns 1,316 shares of the company’s stock worth $38,000 after purchasing an additional 419 shares during the period. Personal CFO Solutions LLC increased its stake in Sony by 1.4% in the 2nd quarter. Personal CFO Solutions LLC now owns 30,463 shares of the company’s stock valued at $793,000 after buying an additional 427 shares during the period. Finally, Rosenberg Matthew Hamilton increased its holdings in Sony by 4.7% in the second quarter. Rosenberg Matthew Hamilton now owns 9,765 shares of the company’s stock worth $254,000 after buying an additional 442 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony 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.