HSBC (LON:HSBA) Share Price Crosses Above 200 Day Moving Average – Here’s Why

HSBC Holdings plc (LON:HSBA)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,273.27 and traded as high as GBX 1,453.60. HSBC shares last traded at GBX 1,445.80, with a volume of 21,468,857 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HSBA shares. HSBC reiterated a “hold” rating and set a GBX 1,450 price target on shares of HSBC in a report on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on HSBC from GBX 1,200 to GBX 1,275 and gave the company a “sector perform” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. increased their target price on HSBC from GBX 1,360 to GBX 1,370 and gave the company a “neutral” rating in a research note on Friday, May 8th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,120 target price on shares of HSBC in a research note on Tuesday, May 5th. Finally, Shore Capital Group raised HSBC to a “hold” rating and lifted their target price for the stock from GBX 1,210 to GBX 1,250 in a report on Thursday, May 7th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 1,300.50.

HSBC Stock Performance

The business’s fifty day moving average price is GBX 1,359.25 and its 200-day moving average price is GBX 1,275.77. The stock has a market cap of £247.86 billion, a PE ratio of 11.95, a P/E/G ratio of 5.97 and a beta of 0.58.

Insider Buying and Selling at HSBC

In related news, insider Pam Kaur acquired 2,345 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of GBX 1,340 per share, for a total transaction of £31,423. 0.14% of the stock is owned by insiders.

HSBC Company Profile