HSBC (LON:HSBA) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

HSBC Holdings plc (LON:HSBA)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 775.14 ($10.02) and traded as high as GBX 889.60 ($11.50). HSBC shares last traded at GBX 877.02 ($11.34), with a volume of 18,104,904 shares trading hands.

Analyst Ratings Changes

HSBA has been the subject of a number of analyst reports. Bank of America reissued a “buy” rating and issued a GBX 1,035 ($13.38) price target on shares of HSBC in a report on Tuesday, March 25th. Citigroup lifted their price objective on HSBC from GBX 960 ($12.41) to GBX 1,070 ($13.83) and gave the stock a “buy” rating in a research report 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 918.75 ($11.88).

HSBC Trading Up 0.4 %

The company’s 50 day simple moving average is GBX 871.37 and its 200 day simple moving average is GBX 775.14. The stock has a market capitalization of £195.80 billion, a PE ratio of 8.43, a PEG ratio of 5.97 and a beta of 0.52.

Insider Transactions at HSBC

In other HSBC news, insider Georges Elhedery sold 43,451 shares of HSBC stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of GBX 926 ($11.97), for a total value of £402,356.26 ($520,176.16). 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 ($11.13), for a total transaction of £389,748.87 ($503,877.01). Insiders own 0.32% of the company’s stock.

HSBC Company Profile

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.