HSBC (LON:HSBA) Sets New 1-Year Low - Here's What Happened

Key Points

• HSBC hit a new 52-week low on Monday, last trading at GBX 1,332.40 on unusually high volume of about 2,147,000,000 shares.
• Analysts are mixed—Citigroup and JPMorgan recently raised targets (to GBX 1,320 and GBX 1,360), but MarketBeat's consensus rating remains Hold with a GBX 1,200 price target.
• Insiders have been selling significantly (including Pam Kaur and Georges Elhedery), with 242,798 shares sold this quarter valued at roughly $308.4M, and insiders now own only 0.14% of the stock.

HSBC Holdings plc (LON:HSBA - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The stock traded as low as GBX 15.20 and last traded at GBX 1,332.40, with a volume of 2147000000 shares changing hands. The stock had previously closed at GBX 1,340.20.

Wall Street Analyst Weigh In

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

HSBC Trading Down 0.6%

The stock has a 50 day simple moving average of GBX 1,265.46 and a 200 day simple moving average of GBX 1,163.76. The firm has a market capitalization of £228.48 billion, a PE ratio of 11.10, a PEG ratio of 5.97 and a beta of 0.56.

Insiders Place Their Bets

In other news, insider Pam Kaur sold 81,967 shares of the stock in a transaction dated 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 dated Wednesday, March 11th. The stock was sold at an average price of GBX 1,280, for a total value of £1,212,787.20. Insiders have sold a total of 242,798 shares of company stock valued at $308,402,488 over the last quarter. 0.14% of the stock is currently owned by company insiders.

About HSBC

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