HSBC (LON:HSBA) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

HSBC Holdings plc (LON:HSBA)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 804.54 ($10.71) and traded as high as GBX 882 ($11.74). HSBC shares last traded at GBX 876.10 ($11.66), with a volume of 24,437,684 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on HSBA. Citigroup increased their price objective on HSBC from GBX 960 ($12.78) to GBX 1,070 ($14.24) and gave the company a “buy” rating in a research report on Thursday, March 6th. Bank of America reaffirmed a “buy” rating and set a GBX 1,035 ($13.77) price objective on shares of HSBC in a research report on Tuesday, March 25th. Finally, Shore Capital reaffirmed a “hold” rating on shares of HSBC in a research report on Tuesday, April 29th.

HSBC Price Performance

The firm has a market capitalization of £195.04 billion, a PE ratio of 8.40, a PEG ratio of 5.97 and a beta of 0.52. The firm has a 50-day simple moving average of GBX 831.09 and a 200-day simple moving average of GBX 804.54.

Insiders Place Their Bets

In other news, insider Georges Elhedery sold 43,451 shares of HSBC stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of GBX 926 ($12.32), for a total transaction of £402,356.26 ($535,475.46). Also, insider Pam Kaur sold 45,267 shares of HSBC stock in a transaction dated Monday, March 10th. The shares were sold at an average price of GBX 861 ($11.46), for a total value of £389,748.87 ($518,696.93). 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.