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

HSBC Holdings plc (LON:HSBA - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 818.86 ($11.07) and traded as high as GBX 878.91 ($11.88). HSBC shares last traded at GBX 871.40 ($11.78), with a volume of 19,469,113 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup raised their price objective on HSBC from GBX 960 ($12.98) to GBX 1,070 ($14.47) and gave the stock a "buy" rating in a research report on Thursday, March 6th. Bank of America reissued a "buy" rating and issued a GBX 1,035 ($13.99) price objective on shares of HSBC in a report on Tuesday, March 25th. Finally, Shore Capital restated a "hold" rating on shares of HSBC in a research note on Tuesday, April 29th.

HSBC Price Performance

The stock has a market capitalization of £195.53 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 5.97 and a beta of 0.52. The business has a fifty day moving average of GBX 831.43 and a 200 day moving average of GBX 822.66.

Insiders Place Their Bets

In other news, insider Pam Kaur sold 45,267 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of GBX 861 ($11.64), for a total value of £389,748.87 ($526,901.27). 0.32% of the stock is owned by insiders.

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.