HSBC (LON:HSBA) Shares Cross Above 200-Day Moving Average - Time to Sell?

HSBC Holdings plc (LON:HSBA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 790.17 ($10.53) and traded as high as GBX 834.90 ($11.12). HSBC shares last traded at GBX 833.87 ($11.11), with a volume of 64,543,715 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HSBA. Citigroup boosted their target price on shares of HSBC from GBX 960 ($12.79) to GBX 1,070 ($14.26) and gave the company a "buy" rating in a research note on Thursday, March 6th. Shore Capital reissued a "hold" rating on shares of HSBC in a report on Tuesday. Finally, Bank of America restated a "buy" rating and issued a GBX 1,035 ($13.79) target price on shares of HSBC in a research note on Tuesday, March 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of GBX 918.75 ($12.24).

HSBC Trading Down 0.6 %

The firm has a fifty day moving average of GBX 841.62 and a two-hundred day moving average of GBX 793.57. The company has a market capitalization of £184.66 billion, a PE ratio of 7.95, a PEG ratio of 5.97 and a beta of 0.52.

Insider Activity

In related news, insider Georges Elhedery sold 43,451 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of GBX 926 ($12.34), for a total transaction of £402,356.26 ($536,117.60). Also, insider Pam Kaur sold 45,267 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of GBX 861 ($11.47), for a total value of £389,748.87 ($519,318.95). Insiders own 0.32% of the company's stock.

HSBC Company Profile

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.