HSBC (LON:HSBA) Share Price Crosses Above 200 Day Moving Average – What’s Next?

HSBC Holdings plc (LON:HSBA)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 705.85 ($8.78) and traded as high as GBX 826.90 ($10.29). HSBC shares last traded at GBX 824.20 ($10.26), with a volume of 19,402,422 shares.

Wall Street Analysts Forecast Growth

Separately, Citigroup reaffirmed a “top pick” rating on shares of HSBC in a research report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, HSBC presently has an average rating of “Buy” and a consensus price target of GBX 795 ($9.89).

HSBC Stock Performance

The stock has a market capitalization of £150.07 billion, a P/E ratio of 926.97, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The firm’s fifty day simple moving average is GBX 770.86 and its 200 day simple moving average is GBX 705.85.

Insider Buying and Selling at HSBC

In related news, insider Georges Elhedery purchased 41,720 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were bought at an average cost of GBX 718 ($8.93) per share, with a total value of £299,549.60 ($372,713.20). Insiders own 0.32% of the company’s stock.

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.