HSBC (LON:HSBA) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of HSBC Holdings plc (LON:HSBA) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,397.48 and traded as high as GBX 1,560.08. HSBC shares last traded at GBX 1,536.06, with a volume of 41,717,332 shares changing hands.

Wall Street Analysts Forecast Growth

HSBA has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 1,120 price objective on shares of HSBC in a report on Tuesday, August 4th. JPMorgan Chase & Co. increased their target price on shares of HSBC from GBX 1,380 to GBX 1,450 and gave the stock a “neutral” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 1,520 price target on shares of HSBC in a research report on Wednesday, August 5th. Citigroup decreased their price target on shares of HSBC from GBX 1,640 to GBX 1,570 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada boosted their price objective on shares of HSBC from GBX 1,275 to GBX 1,375 and gave the company a “sector perform” rating in a research report on Friday, August 14th. Eight analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of GBX 1,394.25.

HSBC Trading Up 0.3%

The firm has a market cap of £258.30 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 5.97 and a beta of 0.58. The stock has a 50-day moving average of GBX 1,525.17 and a 200-day moving average of GBX 1,398.37.

About HSBC