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

HSBC Holdings plc (LON:HSBA)’s share price hit a new 52-week high during mid-day 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 traded. The stock had previously closed at GBX 824.20 ($10.24).

Analyst Upgrades and Downgrades

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

HSBC Trading Up 0.4 %

The firm has a fifty day moving average of GBX 775.17 and a two-hundred day moving average of GBX 707.91. The company has a market capitalization of £153.46 billion, a PE ratio of 947.91, a PEG ratio of 5.97 and a beta of 0.52.

Insider Activity at HSBC

In other HSBC news, insider Georges Elhedery purchased 41,720 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was purchased at an average price of GBX 718 ($8.92) per share, for a total transaction of £299,549.60 ($372,018.88). 0.32% of the stock is currently owned by corporate 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.