HSBC (LON:HSBA) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• HSBC's stock price has risen above its 200-day moving average, trading at GBX 949.50 ($12.75), indicating potential upward momentum.
• Analysts have given HSBC a consensus rating of "Hold" with a target price averaging GBX 947.86 ($12.73), suggesting caution among investors.
• HSBC operates globally with assets of $3.0 trillion and serves around 39 million customers, making it one of the largest banking institutions in the world.

HSBC Holdings plc (LON:HSBA - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 869.98 ($11.79) and traded as high as GBX 949.50 ($12.87). HSBC shares last traded at GBX 949.50 ($12.87), with a volume of 17,435,771 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of HSBC from GBX 900 ($12.20) to GBX 950 ($12.88) and gave the stock a "sector perform" rating in a research note on Wednesday. Shore Capital reaffirmed a "hold" rating and set a GBX 980 ($13.28) target price on shares of HSBC in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of HSBC from GBX 830 ($11.25) to GBX 870 ($11.79) and gave the company a "neutral" rating in a research note on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 910 ($12.33) target price on shares of HSBC in a research note on Thursday, July 31st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, HSBC currently has an average rating of "Hold" and a consensus price target of GBX 955 ($12.94).

HSBC Trading Down 0.8%

The firm has a market capitalization of £211.31 billion, a PE ratio of 9.10, a PEG ratio of 5.97 and a beta of 0.52. The business's 50 day simple moving average is GBX 910.93 and its 200 day simple moving average is GBX 872.89.

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.