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

Key Points

• HSBC stock crossed above its 200-day moving average on Monday, trading as high as GBX 1,356 and last at GBX 1,350.41 versus a 200‑day MA of GBX 1,176.19, on volume of about 16.2 million shares.
• Despite several upgraded price targets from brokers (Citigroup to GBX 1,320, JPMorgan to GBX 1,360), HSBC holds a consensus "Hold" rating with an average target of GBX 1,200, meaning the current share price is above the consensus target.
• Notable insider activity: Georges Elhedery bought 842,628 shares at GBX 1,282 (~£10.8m), while other insiders have sold shares recently, and insiders collectively own about 0.14% of the company.

Shares of HSBC Holdings plc (LON:HSBA - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,176.19 and traded as high as GBX 1,356. HSBC shares last traded at GBX 1,350.41, with a volume of 16,191,972 shares trading hands.

Analyst Ratings Changes

HSBA has been the topic of several research reports. Shore Capital Group reissued a "hold" rating and set a GBX 1,070 price objective on shares of HSBC in a report on Friday, January 9th. Citigroup lifted their price target on shares of HSBC from GBX 1,240 to GBX 1,320 and gave the stock a "buy" rating in a report on Friday, January 9th. JPMorgan Chase & Co. lifted their price target on shares of HSBC from GBX 1,190 to GBX 1,360 and gave the stock a "neutral" rating in a report on Tuesday, March 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of HSBC from GBX 1,050 to GBX 1,200 and gave the stock a "hold" rating in a report on Friday, January 23rd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, HSBC currently has a consensus rating of "Hold" and an average target price of GBX 1,200.

HSBC Price Performance

The company's fifty day simple moving average is GBX 1,270 and its 200-day simple moving average is GBX 1,176.19. The firm has a market capitalization of £232.29 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 5.97 and a beta of 0.56.

Insider Buying and Selling at HSBC

In other HSBC news, insider Pam Kaur sold 81,967 shares of HSBC 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. Also, insider Georges Elhedery purchased 842,628 shares of the business's stock in a transaction on Monday, March 9th. The stock was purchased at an average cost of GBX 1,282 per share, for a total transaction of £10,802,490.96. Insiders sold 242,798 shares of company stock worth $308,402,488 over the last ninety days. Corporate insiders own 0.14% of the company's stock.

About HSBC

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