HSBC (LON:HSBA) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

HSBC Holdings plc (LON:HSBA) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 775.14 ($10.16) and traded as high as GBX 889.60 ($11.66). HSBC shares last traded at GBX 877.02 ($11.49), with a volume of 18,104,904 shares trading hands.

Analyst Ratings Changes

HSBA has been the subject of a number of analyst reports. Citigroup upped their price target on HSBC from GBX 960 ($12.58) to GBX 1,070 ($14.02) and gave the stock a “buy” rating in a report on Thursday, March 6th. Bank of America reiterated a “buy” rating and set a GBX 1,035 ($13.56) price objective on shares of HSBC in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 918.75 ($12.04).

HSBC Stock Performance

The business has a 50-day moving average of GBX 872.83 and a 200-day moving average of GBX 778.13. The stock has a market capitalization of £188.01 billion, a price-to-earnings ratio of 8.10, a P/E/G ratio of 5.97 and a beta of 0.52.

Insider Buying and Selling

In other HSBC news, insider Pam Kaur sold 45,267 shares of HSBC stock in a transaction dated Monday, March 10th. The stock was sold at an average price of GBX 861 ($11.28), for a total transaction of £389,748.87 ($510,677.24). Also, insider Georges Elhedery sold 43,451 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of GBX 926 ($12.13), for a total value of £402,356.26 ($527,196.36). 0.32% of the stock is currently owned by 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.