HSBC Holdings plc (NYSE:HSBC) Short Interest Update

HSBC Holdings plc (NYSE:HSBC) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 6,436,900 shares, an increase of 148.3% from the July 31st total of 2,592,500 shares. Based on an average daily volume of 2,140,000 shares, the short-interest ratio is presently 3.0 days. Approximately 0.2% of the shares of the company are short sold.

A number of equities analysts have recently commented on the stock. Morgan Stanley lowered shares of HSBC from an “overweight” rating to an “equal weight” rating in a research report on Friday, June 21st. ValuEngine downgraded shares of HSBC from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Jefferies Financial Group lowered shares of HSBC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Goldman Sachs Group upgraded shares of HSBC from a “neutral” rating to a “buy” rating in a report on Wednesday, May 22nd. Finally, Barclays lowered shares of HSBC from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, July 17th. Eight analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $43.80.

HSBC traded up $0.48 during midday trading on Wednesday, reaching $38.60. The company’s stock had a trading volume of 3,236,529 shares, compared to its average volume of 2,070,996. The company has a current ratio of 0.89, a quick ratio of 0.97 and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of $37.55 and a 200 day simple moving average of $40.72. The stock has a market cap of $156.13 billion, a P/E ratio of 12.25, a PEG ratio of 2.48 and a beta of 0.71. HSBC has a twelve month low of $35.35 and a twelve month high of $45.33.

Several hedge funds have recently modified their holdings of HSBC. Farmers National Bank acquired a new stake in shares of HSBC in the first quarter worth $25,000. Harvest Group Wealth Management LLC bought a new stake in HSBC in the 1st quarter valued at $27,000. Berman Capital Advisors LLC boosted its holdings in HSBC by 60.4% in the 2nd quarter. Berman Capital Advisors LLC now owns 805 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 303 shares during the period. Cordasco Financial Network grew its position in HSBC by 57.2% in the 2nd quarter. Cordasco Financial Network now owns 838 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 305 shares during the last quarter. Finally, Coastal Investment Advisors Inc. acquired a new stake in HSBC in the 2nd quarter worth $40,000. Institutional investors own 2.40% of the company’s stock.

About HSBC

HSBC Holdings plc provides banking and financial products and services. The company operates through Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking segments. The Retail Banking and Wealth Management segment offers personal banking products and services, mortgages and loans, credit cards, insurance and investment products, savings products, international services, and wealth solutions and financial planning services, as well as telephone, Internet, and mobile banking services.

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