HSBC (LON:HSBA) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

HSBC Holdings plc (LON:HSBA)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,141.63 and traded as high as GBX 1,208. HSBC shares last traded at GBX 1,195.40, with a volume of 210,592,516 shares changing hands.

Analysts Set New Price Targets

HSBA has been the subject of several research reports. Citigroup increased their price objective on HSBC from GBX 1,240 to GBX 1,320 and gave the company a “buy” rating in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft upped their price target on HSBC from GBX 1,050 to GBX 1,200 and gave the company a “hold” rating in a research report on Friday, January 23rd. Shore Capital Group reiterated a “hold” rating and set a GBX 1,070 price target on shares of HSBC in a research note on Friday, January 9th. Finally, JPMorgan Chase & Co. lifted their price objective on HSBC from GBX 1,190 to GBX 1,360 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of GBX 1,200.

HSBC Stock Performance

The stock’s 50 day moving average is GBX 1,260.78 and its 200 day moving average is GBX 1,141.63. The company has a market capitalization of £204.89 billion, a PE ratio of 9.96, a PEG ratio of 5.97 and a beta of 0.47.

Insider Buying and Selling at HSBC

In other HSBC news, insider Georges Elhedery sold 94,749 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of GBX 1,280, for a total transaction of £1,212,787.20. Also, insider Pam Kaur sold 81,967 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of GBX 1,280, for a total value of £1,049,177.60. In the last 90 days, insiders have sold 242,798 shares of company stock worth $308,402,488. Company insiders own 0.14% of the company’s stock.

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