Fannie Mae (OTCMKTS:FNMA) Trading Up 10.3% - Here's What Happened

Key Points

• Fannie Mae's stock price surged by 10.3% during trading on Monday, reaching a last trade price of $13.90.
• B. Riley issued a "neutral" rating on Fannie Mae with a new price target of $10.00, while the stock currently holds an average rating of "Reduce" and a consensus target price of $7.00.
• The trading volume for Fannie Mae was approximately 5.3 million shares, which represents a notable decline of 51% from its average daily volume.

Fannie Mae (OTCMKTS:FNMA - Get Free Report)'s stock price was up 10.3% during trading on Monday . The stock traded as high as $14.00 and last traded at $13.90. Approximately 5,295,105 shares were traded during trading, a decline of 51% from the average daily volume of 10,778,276 shares. The stock had previously closed at $12.60.

Analysts Set New Price Targets

Separately, B. Riley assumed coverage on shares of Fannie Mae in a research note on Friday. They issued a "neutral" rating and a $10.00 price objective on the stock. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $7.00.

Fannie Mae Trading Up 9.3%

The stock's 50-day moving average price is $9.76.

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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