HSBC (LON:HSBA) Stock Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• HSBC's share price surpassed its 200-day moving average of GBX 874.50, trading as high as GBX 948.50, before closing at GBX 944.70.
• Equities research analysts have issued various price targets for HSBC, with a consensus target price of GBX 955 and several analysts rating it as a "Hold."
• HSBC has a market capitalization of £210.96 billion and operates in 62 countries with assets totaling $3.0 trillion.

HSBC Holdings plc (LON:HSBA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 874.50 ($11.83) and traded as high as GBX 948.50 ($12.83). HSBC shares last traded at GBX 944.70 ($12.78), with a volume of 13,427,732 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HSBA shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a GBX 910 price target on shares of HSBC in a research note on Thursday, July 31st. Shore Capital reiterated a "hold" rating and issued a GBX 980 price objective on shares of HSBC in a research note on Wednesday, July 30th. JPMorgan Chase & Co. increased their price objective on HSBC from GBX 830 to GBX 870 and gave the company a "neutral" rating in a research note on Monday, August 4th. Finally, Royal Bank Of Canada increased their price objective on HSBC from GBX 900 to GBX 950 and gave the company a "sector perform" rating in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, HSBC currently has an average rating of "Hold" and an average target price of GBX 969.17.

HSBC Price Performance

The company has a market capitalization of £215.96 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 5.97 and a beta of 0.52. The stock has a 50 day simple moving average of GBX 918.98 and a two-hundred day simple moving average of GBX 877.42.

About HSBC

With assets of $3.0tn and operations in 62 countries and territories at 31 December 2022, HSBC is one of the largest banking and financial services organisations in the world. We serve approximately 39 million personal, wealth and corporate customers through three global businesses. We have around 180,000 shareholders in 126 countries and territories.