Fannie Mae (OTCMKTS:FNMA) Sets New 52-Week High - What's Next?

Key Points

• Fannie Mae's shares reached a new 52-week high during mid-day trading on Wednesday, peaking at $11.99 before closing at $11.82.
• The company reported a trading increase of 7.1%, with a significant volume of nearly 4.9 million shares traded.
• Fannie Mae operates primarily in the mortgage financing sector, focusing on both Single-Family and Multifamily segments.

Shares of Fannie Mae (OTCMKTS:FNMA - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.99 and last traded at $11.82, with a volume of 4899959 shares traded. The stock had previously closed at $11.32.

Analysts Set New Price Targets

Separately, B. Riley assumed coverage on Fannie Mae in a report on Friday. They issued a "neutral" rating and a $10.00 target price on the stock. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Fannie Mae presently has an average rating of "Reduce" and a consensus price target of $7.00.

Fannie Mae Price Performance

The business has a 50 day moving average of $9.76.

Fannie Mae Company Profile

Federal National Mortgage Association provides financing solutions for mortgages in the United States. It operates through two segments, Single-Family and Multifamily. The Single-Family segment securitizes and purchases single-family fixed-rate or adjustable-rate, first-lien mortgage loans, or mortgage-related securities backed by these loans; and loans that are insured by Federal Housing Administration, loans guaranteed by the Department of Veterans Affairs and Rural Development Housing and Community Facilities Program of the U.S.