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

Shares of HSBC Holdings plc (LON:HSBA) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,114.27 and traded as high as GBX 1,291.60. HSBC shares last traded at GBX 1,287.10, with a volume of 24,885,680 shares.

Analyst Ratings Changes

Several analysts have recently weighed in on HSBA shares. Citigroup boosted their target price on HSBC from GBX 1,240 to GBX 1,320 and gave the company a “buy” rating in a report on Friday, January 9th. Shore Capital Group reaffirmed a “hold” rating and set a GBX 1,070 price target on shares of HSBC in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on HSBC from GBX 1,050 to GBX 1,200 and gave the company a “hold” rating in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of HSBC from GBX 1,060 to GBX 1,190 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, HSBC currently has a consensus rating of “Hold” and an average price target of GBX 1,144.17.

HSBC Price Performance

The company has a market cap of £220.94 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 5.97 and a beta of 0.44. The company’s 50-day simple moving average is GBX 1,254.67 and its 200-day simple moving average is GBX 1,114.27.

About HSBC