HSBC (LON:HSBA) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

HSBC Holdings plc (LON:HSBA) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 762.80 ($9.85) and traded as high as GBX 884.50 ($11.42). HSBC shares last traded at GBX 881.60 ($11.38), with a volume of 66,917,250 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of HSBC from GBX 960 ($12.40) to GBX 1,070 ($13.82) and gave the company a “buy” rating in a report on Thursday, March 6th. Bank of America reissued a “buy” rating and issued a GBX 1,035 ($13.36) price target on shares of HSBC in a research report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 918.75 ($11.86).

HSBC Trading Up 0.6 %

The company’s 50 day moving average price is GBX 861.29 and its 200 day moving average price is GBX 762.80. The company has a market cap of £196.83 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 5.97 and a beta of 0.52.

Insider Buying and Selling at HSBC

In other news, insider Georges Elhedery sold 43,451 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of GBX 926 ($11.96), for a total value of £402,356.26 ($519,504.53). Also, insider Pam Kaur sold 45,267 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of GBX 861 ($11.12), for a total value of £389,748.87 ($503,226.43). 0.32% of the stock is owned by corporate insiders.

HSBC Company Profile

With assets of $3.0tn and operations in 62 countries and territories at 31 December 2022, HSBC is one of the largest banking and financial services organisations in the world. We serve approximately 39 million personal, wealth and corporate customers through three global businesses. We have around 180,000 shareholders in 126 countries and territories.