HSBC (LON:HSBA) Shares Pass Above 200-Day Moving Average - Here's What Happened

HSBC Holdings plc (LON:HSBA - Get Free Report)'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 ($10.16) 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 traded.

Analysts Set New Price Targets

Several research analysts have commented on HSBA shares. Bank of America reaffirmed a "buy" rating and set a GBX 1,035 ($13.56) price target on shares of HSBC in a research report on Tuesday, March 25th. Citigroup lifted their target price on shares of HSBC from GBX 960 ($12.58) to GBX 1,070 ($14.02) and gave the company a "buy" rating in a report on Thursday, March 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of GBX 918.75 ($12.04).

Check Out Our Latest Analysis on HSBA

HSBC Trading Down 4.6 %

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

Insider Buying and Selling at HSBC

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

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.

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