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 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 trading hands.

Wall Street Analyst Weigh In

Separately, Citigroup restated 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 issued a strong buy rating to the company. According to data from MarketBeat, HSBC currently has an average rating of “Buy” and an average price target of GBX 795 ($9.94).

HSBC Stock Up 1.1 %

The stock has a market cap of £151.92 billion, a PE ratio of 938.43, a P/E/G ratio of 5.97 and a beta of 0.52. The business has a 50 day moving average price of GBX 783.96 and a 200 day moving average price of GBX 712.51.

About HSBC

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.