The trading price of HSBC Holdings plc (NYSE:HSBC) floating higher at last check on Wednesday, Apr 07, closing at $29.35, 1.75% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $29.59 and $29.87. The company’s P/E ratio in the trailing 12-month period was 30.48, while its 5Y monthly beta was 0.62. In examining the 52-week price action we see that the stock hit a 52-week high of $31.59 and a 52-week low of $17.95. Over the past month, the stock has suffered -4.21% in value.
On the technical side, indicators suggest HSBC has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned HSBC a recommendation rating is 4. Out of them, 3 rate it a Hold, while 1 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged HSBC Holdings plc (HSBC) as Underperform, while not any of them advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that HSBC’s price is currently 1% off the SMA20 and 3.26% off the SMA50. The RSI metric on the 14-day chart is currently showing 55.22, and weekly volatility stands at 1.12%. When measured over the past 30 days, the indicator reaches 1.33%. HSBC Holdings plc (NYSE:HSBC)’s beta value is currently sitting at 0.62, while the Average True Range indicator is currently displaying 0.56. With analysts defining $31.61-$31.61 as the low and high price targets, we arrive at a consensus price target of $31.61 for the trailing 12-month period. The current price is about 5.86% off the estimated low and 5.86% off the forecast high, based on this estimate. Investors will be thrilled if HSBC’s share price rises to $31.61, which is the median consensus price. At that level, HSBC’s share price would be +5.86% above current price.
To see how HSBC Holdings plc stock has been performing today in comparison to its peers in the industry, here are the numbers: HSBC stock’s performance was +1.75% at last check in today’s session, and +20.63% in the past year, while Hdfc Bank Ltd (HDB) has been trading -1.09% in recent session and positioned +118.07% higher than it was a year ago. Another comparable company Royal Bank of Canada (RY) saw its stock trading -0.4% lower in today’s session but was up +59.82% in a year. Furthermore, Toronto Dominion Bank (TD) showed an increase of 1.75% today while its price kept rising at 20.63% over the past year. HSBC Holdings plc has a P/E ratio of 30.48, compared to Hdfc Bank Ltd’s 197.2 and Royal Bank of Canada’s 14.41. Also during today’s trading, the S&P 500 Index has surged 0.16%, while the Dow Jones Industrial also saw a positive session, up +0.01% today.
An evaluation of the daily trading volume of HSBC Holdings plc (NYSE:HSBC) indicates that the 3-month average is 2.22 Million. However, this figure has declined over the past 10 days to an average of 1.95 Million.
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Currently, records show that 4.08 Billion of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 0% of outstanding shares, whereas institutions hold 1.39%. The stats also highlight that short interest as of March 14, 2021, stood at 8.81 Million shares, resulting in a short ratio of 3.64 at that time. From this, we can conclude that short interest is 0.22% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 7.8 Million. However, since the stock’s price has seen +13.28% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.