HSBC (LON:HSBA) Stock Price Breaks Above 200 Day Moving Average – Here’s What Happened

Shares of HSBC Holdings plc (LON:HSBA) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 1,405.16 and traded as high as GBX 1,538.60. HSBC shares last traded at GBX 1,528.71, with a volume of 15,212,131 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on HSBA shares. Citigroup upped their price objective on HSBC from GBX 1,570 to GBX 1,640 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank Of Canada raised their target price on HSBC from GBX 1,275 to GBX 1,375 and gave the stock a “sector perform” rating in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 1,520 price target on shares of HSBC in a research note on Wednesday, August 5th. JPMorgan Chase & Co. upped their price target on shares of HSBC from GBX 1,380 to GBX 1,450 and gave the company a “neutral” rating in a research report on Friday, August 7th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 1,120 price target on shares of HSBC in a research report on Tuesday, August 4th. Eight research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of GBX 1,403.

HSBC Stock Performance

The business’s 50-day moving average price is GBX 1,532.38 and its 200-day moving average price is GBX 1,408.67. The stock has a market cap of £257.54 billion, a P/E ratio of 10.74, a P/E/G ratio of 5.97 and a beta of 0.58.

About HSBC