HSBC (LON:HSBA) Hits New 52-Week High – Here’s Why

HSBC Holdings plc (LON:HSBA) hit a new 52-week high during trading on Wednesday . The stock traded as high as GBX 830.54 ($10.31) and last traded at GBX 829.90 ($10.31), with a volume of 60983668 shares. The stock had previously closed at GBX 824.20 ($10.24).

Wall Street Analyst Weigh In

Separately, Citigroup restated a “top pick” rating on shares of HSBC in a report on Thursday, December 12th. One research 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. Based on data from MarketBeat, HSBC has a consensus rating of “Buy” and an average target price of GBX 795 ($9.87).

HSBC Stock Up 0.3 %

The company has a market capitalization of £153.27 billion, a PE ratio of 946.74, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The stock’s 50 day moving average is GBX 775.17 and its two-hundred day moving average is GBX 707.91.

Insider Activity at HSBC

In other news, insider Georges Elhedery bought 41,720 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average cost of GBX 718 ($8.92) per share, for a total transaction of £299,549.60 ($372,018.88). 0.32% of the stock is owned by insiders.

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.