Short Interest in HSBC Holdings plc (HSBC) Rises By 61.7%
HSBC Holdings plc (NYSE:HSBC) saw a large increase in short interest in the month of December. As of December 29th, there was short interest totalling 5,029,122 shares, an increase of 61.7% from the December 15th total of 3,110,222 shares. Based on an average daily volume of 2,287,752 shares, the days-to-cover ratio is presently 2.2 days.
Institutional investors have recently modified their holdings of the company. Capital Bank & Trust Co boosted its position in shares of HSBC by 4.5% during the 3rd quarter. Capital Bank & Trust Co now owns 64,654 shares of the financial services provider’s stock valued at $3,195,000 after acquiring an additional 2,805 shares in the last quarter. Quantum Capital Management acquired a new position in HSBC in the third quarter valued at about $212,000. Dimensional Fund Advisors LP boosted its position in HSBC by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 13,310,658 shares of the financial services provider’s stock valued at $617,481,000 after buying an additional 99,537 shares in the last quarter. Assetmark Inc. boosted its position in HSBC by 88.4% in the second quarter. Assetmark Inc. now owns 170,972 shares of the financial services provider’s stock valued at $7,931,000 after buying an additional 80,244 shares in the last quarter. Finally, Athos Capital Ltd acquired a new position in HSBC in the third quarter valued at about $1,973,000. Institutional investors and hedge funds own 2.24% of the company’s stock.
Several research analysts have recently issued reports on the stock. Goldman Sachs Group restated a “neutral” rating on shares of HSBC in a report on Tuesday, December 5th. Macquarie assumed coverage on shares of HSBC in a report on Wednesday, November 29th. They set an “outperform” rating on the stock. UBS Group restated a “neutral” rating on shares of HSBC in a report on Wednesday, November 29th. JPMorgan Chase & Co. restated a “neutral” rating on shares of HSBC in a report on Friday, November 24th. Finally, BidaskClub upgraded shares of HSBC from a “sell” rating to a “hold” rating in a research report on Saturday, November 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.50.
HSBC (NYSE:HSBC) last issued its earnings results on Monday, October 30th. The financial services provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.20). analysts anticipate that HSBC will post 3.07 earnings per share for the current year.
HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.
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