Fannie Mae (OTCMKTS:FNMA) Stock Price Up 6.9% - Here's Why

Key Points

• Fannie Mae's stock price increased by 6.9%, reaching a high of $10.74 during trading, although volume dropped significantly to 1.4 million shares.
• Analysts have recently revised their price targets for Fannie Mae, with estimates ranging from a low of $4.00 to a high of $20.00, resulting in a consensus rating of "Hold" with a price target of $13.33.
• The company operates in the mortgage financing sector, offering solutions primarily through its Single-Family and Multifamily segments, focusing on securitizing and purchasing various types of mortgage loans.

Shares of Fannie Mae (OTCMKTS:FNMA - Get Free Report) shot up 6.9% during trading on Thursday . The stock traded as high as $10.74 and last traded at $10.68. 1,406,250 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 10,404,323 shares. The stock had previously closed at $9.99.

Analysts Set New Price Targets

Several brokerages have commented on FNMA. 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 report on Thursday, September 18th. B. Riley initiated coverage on Fannie Mae in a research note on Friday, September 5th. They issued a "neutral" rating and a $10.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Fannie Mae in a research note on Thursday, September 11th. They issued a "buy" rating and a $20.00 price objective on the stock. Finally, Zacks Research upgraded Fannie Mae to a "hold" rating in a research note on Monday, September 8th. One equities 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 MarketBeat.com, Fannie Mae currently has a consensus rating of "Hold" and a consensus price target of $13.33.

Fannie Mae Trading Up 3.2%

The stock has a fifty day simple moving average of $12.06 and a two-hundred day simple moving average of $10.43.

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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