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

HSBC Holdings plc (LON:HSBA)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 1,247.82 and traded as high as GBX 1,382.20. HSBC shares last traded at GBX 1,371.20, with a volume of 14,151,583 shares trading hands.

Analyst Ratings Changes

Several brokerages recently issued reports on HSBA. UBS Group reaffirmed a “neutral” rating and set a GBX 1,419 price target on shares of HSBC in a report on Tuesday, May 5th. 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. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 1,120 price target on shares of HSBC in a report on Tuesday, May 5th. Royal Bank Of Canada raised their price objective 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. Finally, HSBC restated a “hold” rating and set a GBX 1,450 price objective on shares of HSBC in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, HSBC presently has a consensus rating of “Hold” and a consensus target price of GBX 1,300.50.

HSBC Price Performance

The firm has a fifty day simple moving average of GBX 1,335.70 and a 200-day simple moving average of GBX 1,251.42. The firm has a market cap of £221.79 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 5.97 and a beta of 0.58.

Insider Transactions at HSBC

In other news, insider Pam Kaur purchased 2,345 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average price of GBX 1,340 per share, for a total transaction of £31,423. Insiders own 0.14% of the company’s stock.

HSBC Company Profile