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

HSBC Holdings plc (LON:HSBA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 712.51 ($8.91) and traded as high as GBX 827.30 ($10.34). HSBC shares last traded at GBX 826.50 ($10.33), with a volume of 42,242,879 shares traded.

Wall Street Analyst Weigh In

Separately, Citigroup reissued a “top pick” rating on shares of HSBC in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of GBX 795 ($9.94).

HSBC Trading Up 1.1 %

The stock has a 50-day simple moving average of GBX 783.96 and a two-hundred day simple moving average of GBX 712.51. The firm has a market capitalization of £151.92 billion, a P/E ratio of 938.43, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52.

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.