HSBC (LON:HSBA) Shares Cross Above 200 Day Moving Average – What’s Next?

HSBC Holdings plc (LON:HSBA)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,288.10 and traded as high as GBX 1,440.60. HSBC shares last traded at GBX 1,440.40, with a volume of 16,321,089 shares traded.

Wall Street Analyst Weigh In

HSBA has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their price target on shares of HSBC from GBX 1,200 to GBX 1,275 and gave the company a “sector perform” rating in a research report on Thursday, May 14th. UBS Group restated a “neutral” rating and set a GBX 1,419 price objective on shares of HSBC in a research note on Tuesday, May 5th. Shore Capital Group raised HSBC to a “hold” rating and lifted their price objective for the company from GBX 1,210 to GBX 1,250 in a report on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on HSBC from GBX 1,360 to GBX 1,370 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Jefferies Financial Group restated a “hold” rating and issued a GBX 1,120 price target on shares of HSBC in a research report on Tuesday, May 5th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, HSBC currently has a consensus rating of “Hold” and a consensus target price of GBX 1,300.50.

HSBC Stock Up 0.5%

The firm has a market capitalization of £249.07 billion, a P/E ratio of 12.00, a PEG ratio of 5.97 and a beta of 0.58. The business’s 50 day moving average is GBX 1,370.59 and its 200-day moving average is GBX 1,290.45.

Insider Activity

In other HSBC news, insider Pam Kaur purchased 2,345 shares of the stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of GBX 1,340 per share, with a total value of £31,423. Insiders own 0.14% of the company’s stock.

About HSBC