HSBC (LON:HSBA) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

HSBC Holdings plc (LON:HSBAGet Free Report)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1,301.40 and traded as high as GBX 1,461.80. HSBC shares last traded at GBX 1,456.40, with a volume of 13,205,030 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HSBA shares. Jefferies Financial Group restated a “hold” rating and issued a GBX 1,120 price target on shares of HSBC in a research note on Tuesday, May 5th. UBS Group reissued a “neutral” rating and issued a GBX 1,419 target price on shares of HSBC in a report on Tuesday, May 5th. Royal Bank Of Canada raised their target price on HSBC from GBX 1,200 to GBX 1,275 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. boosted their price target on HSBC from GBX 1,360 to GBX 1,370 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Shore Capital Group upgraded HSBC to a “hold” rating and boosted their price target for the company from GBX 1,210 to GBX 1,250 in a research note on Thursday, May 7th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of GBX 1,300.50.

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HSBC Stock Performance

The business’s 50-day moving average price is GBX 1,385.12 and its 200-day moving average price is GBX 1,302.59. The stock has a market cap of £252.25 billion, a P/E ratio of 12.16, a P/E/G ratio of 5.97 and a beta of 0.56.

Insiders Place Their Bets

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

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