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

Shares of HSBC Holdings plc (LON:HSBA) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 1,301.40 and traded as high as GBX 1,461.80. HSBC shares last traded at GBX 1,456.40, with a volume of 13,205,030 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of HSBC from GBX 1,200 to GBX 1,275 and gave the company a “sector perform” rating in a research note on Thursday, May 14th. Shore Capital Group upgraded shares of HSBC to a “hold” rating and increased their target price for the stock from GBX 1,210 to GBX 1,250 in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their price target on shares of HSBC from GBX 1,360 to GBX 1,370 and gave the company a “neutral” rating in a report on Friday, May 8th. HSBC restated a “hold” rating and set a GBX 1,450 price target on shares of HSBC in a research report on Wednesday, May 6th. Finally, UBS Group reaffirmed a “neutral” rating and issued a GBX 1,419 price target on shares of HSBC in a report on Tuesday, May 5th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of GBX 1,300.50.

HSBC Stock Performance

The stock has a market cap of £249.75 billion, a PE ratio of 12.04, a PEG ratio of 5.97 and a beta of 0.56. The company’s 50-day moving average price is GBX 1,382.32 and its two-hundred day moving average price is GBX 1,301.40.

Insider Transactions at HSBC

In other news, insider Pam Kaur purchased 2,345 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of GBX 1,340 per share, with a total value of £31,423. 0.14% of the stock is currently owned by company insiders.

HSBC Company Profile