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

HSBC Holdings plc (LON:HSBA)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada increased their price target on shares of HSBC from GBX 1,200 to GBX 1,275 and gave the stock a “sector perform” rating in a report on Thursday, May 14th. JPMorgan Chase & Co. lifted their price objective on shares of HSBC from GBX 1,360 to GBX 1,370 and gave the stock a “neutral” rating in a report on Friday, May 8th. UBS Group reaffirmed a “neutral” rating and set a GBX 1,419 price objective on shares of HSBC in a report on Tuesday, May 5th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 1,120 target price on shares of HSBC in a research report on Tuesday, May 5th. Finally, HSBC reissued a “hold” rating and issued a GBX 1,450 target price on shares of HSBC in a research note on Wednesday, May 6th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, HSBC presently has an average rating of “Hold” and a consensus price target of GBX 1,300.50.

HSBC Stock Performance

The company has a market cap of £247.93 billion, a P/E ratio of 11.95, a P/E/G ratio of 5.97 and a beta of 0.58. The stock has a 50-day moving average of GBX 1,357.31 and a two-hundred day moving average of GBX 1,273.27.

Insider Activity at HSBC

In other HSBC news, insider Pam Kaur purchased 2,345 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of GBX 1,340 per share, with a total value of £31,423. Company insiders own 0.14% of the company’s stock.

About HSBC