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

Shares of HSBC Holdings plc (LON:HSBA) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,288.10 and traded as high as GBX 1,440.60. HSBC shares last traded at GBX 1,440.40, with a volume of 16,321,089 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group reissued a “hold” rating and issued a GBX 1,120 target price on shares of HSBC in a report on Tuesday, May 5th. UBS Group reaffirmed a “neutral” rating and set a GBX 1,419 price target on shares of HSBC in a report on Tuesday, May 5th. Royal Bank Of Canada upped 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 research report on Thursday, May 14th. HSBC reissued a “hold” rating and issued a GBX 1,450 price objective on shares of HSBC in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of HSBC from GBX 1,360 to GBX 1,370 and gave the company a “neutral” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 1,300.50.

HSBC Trading Up 0.7%

The firm has a market capitalization of £247.00 billion, a P/E ratio of 11.90, a P/E/G ratio of 5.97 and a beta of 0.58. The company has a 50 day simple moving average of GBX 1,368.91 and a two-hundred day simple moving average of GBX 1,288.10.

Insider Activity

In related news, insider Pam Kaur bought 2,345 shares of the stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of GBX 1,340 per share, with a total value of £31,423. 0.14% of the stock is currently owned by insiders.

About HSBC