HSBC (LON:HSBA) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of HSBC Holdings plc (LON:HSBA) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,313.27 and traded as high as GBX 1,492.20. HSBC shares last traded at GBX 1,479.27, with a volume of 17,128,221 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. HSBC reaffirmed a “hold” rating and set a GBX 1,450 price target on shares of HSBC in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their target price 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 reiterated a “neutral” rating and issued a GBX 1,419 price target on shares of HSBC in a research report on Tuesday, May 5th. Shore Capital Group raised HSBC to a “hold” rating and raised their price objective for the company from GBX 1,210 to GBX 1,250 in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted 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. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of GBX 1,300.50.

HSBC Trading Down 1.0%

The company has a market cap of £253.67 billion, a P/E ratio of 12.23, a P/E/G ratio of 5.97 and a beta of 0.56. The company has a 50-day simple moving average of GBX 1,400.81 and a 200 day simple moving average of GBX 1,313.27.

Insider Buying and Selling at HSBC

In other news, insider Pam Kaur acquired 2,345 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of GBX 1,340 per share, with a total value of £31,423. Corporate insiders own 0.14% of the company’s stock.

About HSBC