HSBC (LON:HSBA) Stock Passes Above 200-Day Moving Average – What’s Next?

HSBC Holdings plc (LON:HSBA) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,223.02 and traded as high as GBX 1,365.40. HSBC shares last traded at GBX 1,358, with a volume of 23,943,676 shares.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HSBA shares. UBS Group reaffirmed a “neutral” rating and set a GBX 1,419 price objective on shares of HSBC in a report on Tuesday, May 5th. JPMorgan Chase & Co. upped their price objective on HSBC from GBX 1,360 to GBX 1,370 and gave the stock a “neutral” rating in a report on Friday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 1,120 price objective on shares of HSBC in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft upped their price objective on HSBC from GBX 1,050 to GBX 1,200 and gave the stock a “hold” rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada upped their price objective on HSBC from GBX 1,200 to GBX 1,275 and gave the stock a “sector perform” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of GBX 1,300.50.

HSBC Trading Up 1.1%

The stock has a market cap of £235.38 billion, a P/E ratio of 11.44, a P/E/G ratio of 5.97 and a beta of 0.57. The company has a 50-day moving average price of GBX 1,288.86 and a two-hundred day moving average price of GBX 1,224.07.

Insider Activity at HSBC

In related news, insider Georges Elhedery bought 842,628 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were purchased at an average price of GBX 1,282 per share, with a total value of £10,802,490.96. Also, insider Pam Kaur sold 81,967 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of GBX 1,280, for a total value of £1,049,177.60. In the last three months, insiders have sold 242,798 shares of company stock worth $308,402,488. Corporate insiders own 0.14% of the company’s stock.

HSBC Company Profile