Fannie Mae (OTCMKTS:FNMA) Shares Gap Up - Here's What Happened

Key Points

• Fannie Mae's stock price gapped up from a previous close of $11.47 to open at $11.95, recently trading at $12.36 with a volume of over 2.4 million shares.
• Analyst ratings for Fannie Mae show a mix of recommendations, with one "Buy," two "Hold," and one "Sell," leading to a consensus rating of "Hold" and a target price of $13.33.
• Research firm Keefe, Bruyette & Woods revised their price target for Fannie Mae down to $10.00, while Deutsche Bank set a more optimistic target of $20.00.

Fannie Mae (OTCMKTS:FNMA - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $11.47, but opened at $11.95. Fannie Mae shares last traded at $12.36, with a volume of 2,411,151 shares changing hands.

Analyst Ratings Changes

Several research analysts have commented on FNMA shares. Keefe, Bruyette & Woods lifted their price objective on shares of Fannie Mae from $4.00 to $10.00 and gave the stock an "underperform" rating in a research note on Thursday, September 18th. Zacks Research upgraded shares of Fannie Mae to a "hold" rating in a report on Monday, September 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Fannie Mae in a 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 shares of Fannie Mae in a research report on Friday, September 5th. They issued a "neutral" rating and a $10.00 price objective on the stock. One research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $13.33.

Fannie Mae Trading Up 8.6%

The company has a fifty day moving average price of $12.11.

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.

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