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

Key Points

• HSBC hit a new 52-week low on Friday, last trading at GBX 1,330.80 on heavy volume of 248,465,813 shares.
• Wall Street analysts have a consensus rating of "Hold" with a consensus target price of GBX 1,200 (one Buy and four Hold ratings; several firms recently raised targets).
• Notable insider activity: Georges Elhedery bought 842,628 shares at GBX 1,282 (~£10.8m) while other insiders sold shares (242,798 shares sold in the last 90 days); insiders now own 0.14% of the stock.

HSBC Holdings plc (LON:HSBA - Get Free Report) reached a new 52-week low 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.

Wall Street Analysts Forecast Growth

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

HSBC Trading Down 0.5%

The company has a 50-day simple moving average of GBX 1,273.26 and a 200 day simple moving average of GBX 1,180.55. The company 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.

Insider Buying and Selling at HSBC

In other HSBC news, insider Georges Elhedery acquired 842,628 shares of the business's stock in a transaction 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 company's stock in a transaction on 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 sold a total of 242,798 shares of company stock worth $308,402,488 in the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

HSBC Company Profile

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.