HSBC (LON:HSBA) Hits New 12-Month Low – Here’s Why

HSBC Holdings plc (LON:HSBA)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as GBX 13.28 and last traded at GBX 1,330.80, with a volume of 248465813 shares changing hands. The stock had previously closed at GBX 1,338.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on HSBC from GBX 1,190 to GBX 1,360 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft increased their price target on HSBC from GBX 1,050 to GBX 1,200 and gave the stock a “hold” rating in a research report on Friday, January 23rd. Shore Capital Group reissued a “hold” rating and set a GBX 1,070 price target on shares of HSBC in a research report on Friday, January 9th. Finally, Citigroup increased their price target on HSBC from GBX 1,240 to GBX 1,320 and gave the stock a “buy” rating in a research report on Friday, January 9th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of GBX 1,200.

HSBC Trading Down 0.5%

The business has a 50-day moving average price of GBX 1,273.26 and a 200-day moving average price of GBX 1,180.55. The firm has a market cap of £228.22 billion, a P/E ratio of 11.09, a P/E/G ratio of 5.97 and a beta of 0.56.

Insiders Place Their Bets

In related news, insider Georges Elhedery acquired 842,628 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average price of GBX 1,282 per share, with a total value of £10,802,490.96. Also, insider Pam Kaur sold 81,967 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of GBX 1,280, for a total value of £1,049,177.60. Insiders have sold a total of 242,798 shares of company stock worth $308,402,488 in the last three months. Corporate insiders own 0.14% of the company’s stock.

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