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

HSBC Holdings plc (LON:HSBA)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,313.27 and traded as high as GBX 1,492.20. HSBC shares last traded at GBX 1,479.27, with a volume of 17,128,221 shares.

Wall Street Analysts Forecast Growth

HSBA has been the topic of several analyst reports. UBS Group reiterated a “neutral” rating and issued a GBX 1,419 price objective on shares of HSBC in a research note on Tuesday, May 5th. HSBC reiterated a “hold” rating and set a GBX 1,450 price objective on shares of HSBC in a research note on Wednesday, May 6th. Shore Capital Group upgraded shares of HSBC to a “hold” rating and boosted their target price for the company from GBX 1,210 to GBX 1,250 in a research note on Thursday, May 7th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,120 target price on shares of HSBC in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of HSBC from GBX 1,360 to GBX 1,370 and gave the company a “neutral” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of GBX 1,300.50.

HSBC Stock Down 1.0%

The stock has a fifty day moving average of GBX 1,400.81 and a 200-day moving average of GBX 1,313.27. The firm has a market capitalization of £253.67 billion, a P/E ratio of 12.23, a PEG ratio of 5.97 and a beta of 0.56.

Insider Activity at HSBC

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

HSBC Company Profile