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

HSBC Holdings plc (LON:HSBA)’s share price passed 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 traded.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HSBA. JPMorgan Chase & Co. increased their price objective on shares of HSBC from GBX 1,190 to GBX 1,360 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of HSBC from GBX 1,050 to GBX 1,200 and gave the stock a “hold” rating in a research report on Friday, January 23rd. Shore Capital Group reissued a “hold” rating and issued a GBX 1,070 price objective on shares of HSBC in a research report on Friday, January 9th. Finally, Citigroup increased their price objective on shares of HSBC from GBX 1,240 to GBX 1,320 and gave the stock a “buy” rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of GBX 1,200.

HSBC Trading Down 1.4%

The firm has a market cap of £230.20 billion, a PE ratio of 11.19, a P/E/G ratio of 5.97 and a beta of 0.56. The business’s 50-day simple moving average is GBX 1,271.84 and its 200 day simple moving average is GBX 1,179.45.

Insider Activity at HSBC

In other HSBC news, insider Georges Elhedery acquired 842,628 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average cost of GBX 1,282 per share, with a total value of £10,802,490.96. Also, insider Pam Kaur sold 81,967 shares of HSBC stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of GBX 1,280, for a total transaction of £1,049,177.60. Over the last three months, insiders have sold 242,798 shares of company stock worth $308,402,488. 0.14% of the stock is currently owned by corporate insiders.

HSBC Company Profile