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

HSBC Holdings plc (LON:HSBA) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,301.40 and traded as high as GBX 1,461.80. HSBC shares last traded at GBX 1,456.40, with a volume of 13,205,030 shares trading hands.

Wall Street Analysts Forecast Growth

HSBA has been the subject of several research analyst reports. Royal Bank Of Canada raised 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 note on Thursday, May 14th. Shore Capital Group upgraded HSBC to a “hold” rating and upped their price objective for the company from GBX 1,210 to GBX 1,250 in a research note on Thursday, May 7th. Jefferies Financial Group reissued a “hold” rating and set a GBX 1,120 price objective on shares of HSBC in a report on Tuesday, May 5th. HSBC reissued a “hold” rating and issued a GBX 1,450 target price on shares of HSBC in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. boosted their target price on 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 analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, HSBC has an average rating of “Hold” and an average price target of GBX 1,300.50.

HSBC Stock Performance

The firm has a market cap of £249.75 billion, a P/E ratio of 12.04, a PEG ratio of 5.97 and a beta of 0.56. The business’s fifty day simple moving average is GBX 1,382.32 and its 200-day simple moving average is GBX 1,301.40.

Insider Activity

In related news, insider Pam Kaur acquired 2,345 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of GBX 1,340 per share, for a total transaction of £31,423. Insiders own 0.14% of the company’s stock.

About HSBC