Sony Corp (NYSE:SNE) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,409,540 shares, a growth of 77.0% from the November 30th total of 796,394 shares. Based on an average trading volume of 909,037 shares, the short-interest ratio is currently 1.6 days.
SNE has been the topic of several recent research reports. Jefferies Group reaffirmed a “buy” rating and issued a $59.84 price objective on shares of Sony in a report on Friday, November 17th. Citigroup downgraded shares of Sony from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $40.60 to $39.93 in a report on Monday, September 11th. Morgan Stanley downgraded shares of Sony from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 11th. Credit Suisse Group downgraded shares of Sony from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 19th. Finally, Zacks Investment Research downgraded shares of Sony from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Sony presently has a consensus rating of “Buy” and an average target price of $48.19.
A number of hedge funds and other institutional investors have recently made changes to their positions in SNE. Parallax Volatility Advisers L.P. boosted its holdings in Sony by 206.3% during the second quarter. Parallax Volatility Advisers L.P. now owns 4,354 shares of the company’s stock worth $166,000 after buying an additional 8,451 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in Sony during the second quarter worth $201,000. Opes Advisors Inc purchased a new stake in Sony during the second quarter worth $206,000. Dorsey & Whitney Trust CO LLC purchased a new stake in Sony during the second quarter worth $212,000. Finally, New England Research & Management Inc. purchased a new stake in Sony during the third quarter worth $213,000. 6.77% of the stock is currently owned by hedge funds and other institutional investors.
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Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other.
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