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

HSBC Holdings plc (LON:HSBA)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,223.02 and traded as high as GBX 1,365.40. HSBC shares last traded at GBX 1,358, with a volume of 23,943,676 shares.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price objective on HSBC from GBX 1,050 to GBX 1,200 and gave the stock a “hold” rating in a research note on Friday, January 23rd. Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,120 price objective on shares of HSBC in a research note on Tuesday, May 5th. Shore Capital Group raised shares of HSBC to a “hold” rating and raised their price objective for the stock from GBX 1,210 to GBX 1,250 in a report on Thursday, May 7th. Royal Bank Of Canada raised their price objective on shares of HSBC from GBX 1,200 to GBX 1,275 and gave the stock a “sector perform” rating in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of HSBC from GBX 1,360 to GBX 1,370 and gave the stock a “neutral” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, HSBC currently has an average rating of “Hold” and an average target price of GBX 1,300.50.

HSBC Stock Up 0.8%

The company has a market cap of £234.62 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 5.97 and a beta of 0.57. The company’s fifty day moving average price is GBX 1,286.86 and its two-hundred day moving average price is GBX 1,223.02.

Insider Activity at HSBC

In other news, insider Pam Kaur sold 81,967 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of GBX 1,280, for a total transaction of £1,049,177.60. Also, insider Georges Elhedery sold 94,749 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of GBX 1,280, for a total transaction of £1,212,787.20. In the last ninety days, insiders have sold 242,798 shares of company stock valued at $308,402,488. Company insiders own 0.14% of the company’s stock.

About HSBC