Fannie Mae (OTCMKTS:FNMA) Stock Price Down 8.1% - Here's What Happened

Key Points

• Fannie Mae's stock dropped 8.1% on Friday, closing at $12.55, with trading volume significantly lower than average.
• Analysts have varied views on the stock, with targets ranging from $10.00 to $20.00 and a consensus rating of "Hold".
• The company's recent analysts' reports indicate increasing scrutiny, highlighting one "Buy," two "Hold," and one "Sell" rating among the analysts.

Fannie Mae (OTCMKTS:FNMA - Get Free Report) shares dropped 8.1% during trading on Friday . The stock traded as low as $12.53 and last traded at $12.55. Approximately 4,865,624 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 10,795,462 shares. The stock had previously closed at $13.65.

Wall Street Analyst Weigh In

FNMA has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on Fannie Mae from $4.00 to $10.00 and gave the company an "underperform" rating in a report on Thursday. Zacks Research raised Fannie Mae to a "hold" rating in a report on Monday, September 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Fannie Mae in a report on Thursday, September 11th. They issued a "buy" rating and a $20.00 price target for the company. Finally, B. Riley initiated coverage on Fannie Mae in a report on Friday, September 5th. They issued a "neutral" rating and a $10.00 price target for the company. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Fannie Mae currently has a consensus rating of "Hold" and a consensus price target of $13.33.

Fannie Mae Trading Down 3.5%

The business's fifty day simple moving average is $10.81 and its 200 day simple moving average is $9.85.

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.