Short Interest in HSBC Holdings plc (NYSE:HSBC) Drops By 10.4%

HSBC Holdings plc (NYSE:HSBC) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 6,820,000 shares, a decline of 10.4% from the January 15th total of 7,610,000 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 1,190,000 shares, the days-to-cover ratio is currently 5.7 days.

Hedge Funds Weigh In On HSBC

Several hedge funds have recently bought and sold shares of HSBC. Creative Planning raised its position in HSBC by 9.4% during the third quarter. Creative Planning now owns 222,092 shares of the financial services provider’s stock valued at $10,036,000 after purchasing an additional 19,165 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of HSBC by 10.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,740 shares of the financial services provider’s stock worth $305,000 after buying an additional 622 shares in the last quarter. Net Worth Advisory Group bought a new stake in shares of HSBC during the 3rd quarter worth $323,000. Blue Trust Inc. grew its position in HSBC by 120.7% in the third quarter. Blue Trust Inc. now owns 18,418 shares of the financial services provider’s stock valued at $801,000 after acquiring an additional 10,074 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in HSBC by 23.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 18,341 shares of the financial services provider’s stock worth $829,000 after acquiring an additional 3,451 shares in the last quarter. 1.48% of the stock is owned by institutional investors.

HSBC Price Performance

Shares of NYSE:HSBC traded up $1.77 during trading on Tuesday, reaching $56.86. 2,855,997 shares of the company traded hands, compared to its average volume of 1,463,957. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. HSBC has a 52 week low of $36.93 and a 52 week high of $57.08. The firm has a market capitalization of $203.64 billion, a PE ratio of 9.40, a PEG ratio of 1.41 and a beta of 0.54. The company’s 50 day moving average is $50.61 and its two-hundred day moving average is $46.73.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft lowered shares of HSBC from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd.

HSBC Company Profile

HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.