HSBC (LON:HSBA) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

HSBC Holdings plc (LON:HSBA) shares 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 traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HSBA. Royal Bank Of Canada upped their target price on 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. JPMorgan Chase & Co. boosted their price objective on shares of HSBC from GBX 1,360 to GBX 1,370 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 1,120 price objective on shares of HSBC in a report on Tuesday, May 5th. Shore Capital Group upgraded shares of HSBC to a “hold” rating and raised their target price for the company from GBX 1,210 to GBX 1,250 in a research note on Thursday, May 7th. Finally, HSBC reiterated a “hold” rating and issued a GBX 1,450 target price on shares of HSBC in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of GBX 1,300.50.

HSBC Stock Performance

The firm’s 50-day simple moving average is GBX 1,400.81 and its 200-day simple moving average is GBX 1,313.27. The company has a market capitalization of £253.67 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 5.97 and a beta of 0.56.

Insider Buying and Selling

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

HSBC Company Profile