Fannie Mae (OTCMKTS:FNMA) Sets New 52-Week High on Analyst Upgrade

Key Points

• Fannie Mae's stock reached a new 52-week high of $14.29, closing at $13.99 with a trading volume of over 16 million shares.
• B. Riley initiated coverage on the stock with a "neutral" rating and a price target of $10.00, contrasting with a consensus rating of "Reduce" and an average target of $7.00.
• The company operates through two segments: Single-Family and Multifamily, providing various mortgage financing solutions in the U.S.

Fannie Mae (OTCMKTS:FNMA - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday after Zacks Research upgraded the stock to a hold rating. The company traded as high as $14.29 and last traded at $13.99, with a volume of 16156104 shares trading hands. The stock had previously closed at $12.60.

Separately, B. Riley assumed coverage on shares of Fannie Mae in a research report on Friday, September 5th. They set a "neutral" rating and a $10.00 target price for the company. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $11.33.

Fannie Mae Stock Performance

The stock's 50 day simple moving average is $10.27 and its 200-day simple moving average is $9.52.

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.