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

HSBC Holdings plc (LON:HSBA) passed above its 200-day moving average during trading on Friday . The stock has a 200-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 traded.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HSBA. Bank of America reissued a “buy” rating and issued a GBX 1,035 ($13.36) price objective on shares of HSBC in a research report on Friday, March 14th. Citigroup raised their price target on shares of HSBC from GBX 960 ($12.40) to GBX 1,070 ($13.82) and gave the stock a “buy” rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 918.75 ($11.86).

HSBC Stock Up 0.6 %

The business has a 50-day moving average price of GBX 861.29 and a 200-day moving average price of GBX 763.50. The firm has a market capitalization of £196.83 billion, a P/E ratio of 8.48, a PEG ratio of 5.97 and a beta of 0.52.

Insider Buying and Selling at HSBC

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

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.