HSBC (LON:HSBA) Stock Passes Above 200-Day Moving Average – Here’s Why

HSBC Holdings plc (LON:HSBA)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 775.14 ($10.02) and traded as high as GBX 889.60 ($11.50). HSBC shares last traded at GBX 877.02 ($11.34), with a volume of 18,104,904 shares.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup upped their price target on HSBC from GBX 960 ($12.41) to GBX 1,070 ($13.83) and gave the company a “buy” rating in a report on Thursday, March 6th. Bank of America restated a “buy” rating and issued a GBX 1,035 ($13.38) price target on shares of HSBC in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 918.75 ($11.88).

HSBC Price Performance

The stock has a market cap of £195.80 billion, a PE ratio of 8.43, a PEG ratio of 5.97 and a beta of 0.52. The company has a 50-day simple moving average of GBX 871.37 and a 200-day simple moving average of GBX 775.14.

Insider Activity at HSBC

In other news, insider Pam Kaur sold 45,267 shares of HSBC stock in a transaction on Monday, March 10th. The stock was sold at an average price of GBX 861 ($11.13), for a total transaction of £389,748.87 ($503,877.01). Also, insider Georges Elhedery sold 43,451 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of GBX 926 ($11.97), for a total transaction of £402,356.26 ($520,176.16). Company insiders own 0.32% of the company’s stock.

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.