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

Shares of HSBC Holdings plc (LON:HSBAGet Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,176.19 and traded as high as GBX 1,356. HSBC shares last traded at GBX 1,350.41, with a volume of 16,191,972 shares trading hands.

Analyst Ratings Changes

HSBA has been the topic of several research reports. Shore Capital Group reissued a “hold” rating and set a GBX 1,070 price objective on shares of HSBC in a report on Friday, January 9th. Citigroup lifted their price target on shares of HSBC from GBX 1,240 to GBX 1,320 and gave the stock a “buy” rating in a report on Friday, January 9th. JPMorgan Chase & Co. lifted their price target on shares of HSBC from GBX 1,190 to GBX 1,360 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of HSBC from GBX 1,050 to GBX 1,200 and gave the stock a “hold” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, HSBC currently has a consensus rating of “Hold” and an average target price of GBX 1,200.

Check Out Our Latest Report on HSBC

HSBC Price Performance

The company’s fifty day simple moving average is GBX 1,270 and its 200-day simple moving average is GBX 1,176.19. The firm has a market capitalization of £232.29 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 5.97 and a beta of 0.56.

Insider Buying and Selling at HSBC

In other HSBC news, insider Pam Kaur sold 81,967 shares of HSBC stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of GBX 1,280, for a total value of £1,049,177.60. Also, insider Georges Elhedery purchased 842,628 shares of the business’s stock in a transaction on Monday, March 9th. The stock was purchased at an average cost of GBX 1,282 per share, for a total transaction of £10,802,490.96. Insiders sold 242,798 shares of company stock worth $308,402,488 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.

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