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

HSBC Holdings plc (LON:HSBA) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 825.33 ($11.17) and traded as high as GBX 883.90 ($11.96). HSBC shares last traded at GBX 879.01 ($11.89), with a volume of 17,348,838 shares changing hands.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Shore Capital restated a “hold” rating on shares of HSBC in a research report on Tuesday, April 29th. Bank of America reiterated a “buy” rating and set a GBX 1,035 ($14.00) price target on shares of HSBC in a research note on Tuesday, March 25th. Finally, Citigroup upped their price objective on shares of HSBC from GBX 960 ($12.99) to GBX 1,070 ($14.48) and gave the company a “buy” rating in a research note on Thursday, March 6th.

HSBC Price Performance

The company has a market cap of £196.25 billion, a PE ratio of 8.45, a PEG ratio of 5.97 and a beta of 0.52. The stock has a 50 day simple moving average of GBX 831.44 and a two-hundred day simple moving average of GBX 825.33.

Insider Transactions at HSBC

In related news, insider Pam Kaur sold 45,267 shares of HSBC stock in a transaction on Monday, March 10th. The shares were sold at an average price of GBX 861 ($11.65), for a total value of £389,748.87 ($527,257.67). Insiders own 0.32% of the company’s stock.

About HSBC

With assets of $3.0tn and operations in 62 countries and territories at 31 December 2022, HSBC is one of the largest banking and financial services organisations in the world. We serve approximately 39 million personal, wealth and corporate customers through three global businesses. We have around 180,000 shareholders in 126 countries and territories.