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

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 762.80 ($9.85) and traded as high as GBX 884.50 ($11.42). HSBC shares last traded at GBX 881.60 ($11.38), with a volume of 66,917,250 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HSBA shares. Bank of America reiterated a “buy” rating and set a GBX 1,035 ($13.36) price target on shares of HSBC in a report on Friday, March 14th. Citigroup lifted their target price on HSBC from GBX 960 ($12.40) to GBX 1,070 ($13.82) and gave the company a “buy” rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 918.75 ($11.86).

HSBC Stock Up 0.6 %

The business has a 50-day moving average of GBX 861.29 and a 200-day moving average of GBX 763.50. The stock has a market cap of £196.83 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 5.97 and a beta of 0.52.

Insider Activity

In other HSBC news, insider Georges Elhedery sold 43,451 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of GBX 926 ($11.96), for a total transaction of £402,356.26 ($519,504.53). Also, insider Pam Kaur sold 45,267 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of GBX 861 ($11.12), for a total value of £389,748.87 ($503,226.43). 0.32% of the stock is owned by corporate insiders.

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.