Sony (NYSE:SONY) Shares Gap Up – Time to Buy?

Sony Corporation (NYSE:SONY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $25.23, but opened at $25.90. Sony shares last traded at $25.8350, with a volume of 413,868 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SONY shares. Nomura raised Sony from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 19th. Zacks Research raised shares of Sony from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 16th. Weiss Ratings restated a “buy (b)” rating on shares of Sony in a report on Wednesday, October 8th. Wolfe Research raised shares of Sony from a “peer perform” rating to an “outperform” rating in a research note on Wednesday, November 5th. Finally, Cfra Research upgraded shares of Sony to a “moderate buy” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $33.00.

Sony Stock Up 2.3%

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.98. The stock has a market cap of $156.06 billion, a PE ratio of 19.87, a PEG ratio of 9.74 and a beta of 0.97. The company has a 50 day moving average price of $28.18 and a two-hundred day moving average price of $27.35.

Hedge Funds Weigh In On Sony

Institutional investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL lifted its position in shares of Sony by 1,492.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 122,649 shares of the company’s stock valued at $3,531,000 after buying an additional 114,949 shares in the last quarter. Allworth Financial LP boosted its position in shares of Sony by 14.7% in the third quarter. Allworth Financial LP now owns 14,156 shares of the company’s stock worth $408,000 after purchasing an additional 1,812 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Sony by 4.9% in the third quarter. CIBC Private Wealth Group LLC now owns 1,762,209 shares of the company’s stock worth $50,734,000 after purchasing an additional 81,525 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Sony during the 3rd quarter valued at $50,560,000. Finally, Ovata Capital Management Ltd bought a new stake in shares of Sony during the 3rd quarter valued at $777,000. 14.05% of the stock is owned by institutional investors.

About Sony

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.