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 were down 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 traded 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.

Analyst Ratings Changes

A number of analysts have recently commented on FNMA shares. Keefe, Bruyette & Woods boosted 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 shares of Fannie Mae to a "hold" rating in a research report on Monday, September 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Fannie Mae in a research report on Thursday, September 11th. They set a "buy" rating and a $20.00 price target on the stock. Finally, B. Riley assumed coverage on Fannie Mae in a research note on Friday, September 5th. They set a "neutral" rating and a $10.00 price objective on the stock. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Fannie Mae presently has an average rating of "Hold" and an average price target of $13.33.

Fannie Mae Price Performance

The stock has a 50-day simple moving average of $10.74 and a 200-day simple moving average of $9.79.

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.