Fannie Mae (OTCMKTS:FNMA) Trading Down 4.2% – What’s Next?

Fannie Mae (OTCMKTS:FNMA)’s share price fell 4.2% during mid-day trading on Friday . The company traded as low as $11.34 and last traded at $11.43. 2,365,674 shares were traded during trading, a decline of 77% from the average session volume of 10,268,947 shares. The stock had previously closed at $11.93.

Wall Street Analysts Forecast Growth

FNMA has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price objective on Fannie Mae from $4.00 to $10.00 and gave the company an “underperform” rating in a research note on Thursday, September 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of Fannie Mae in a research report on Thursday, September 11th. They issued a “buy” rating and a $20.00 price target on the stock. B. Riley began coverage on Fannie Mae in a report on Friday, September 5th. They set a “neutral” rating and a $10.00 price objective for the company. Finally, Zacks Research upgraded Fannie Mae to a “hold” rating in a report on Monday, September 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.33.

Fannie Mae Trading Down 4.6%

The company’s fifty day simple moving average is $12.18 and its 200 day simple moving average is $10.51.

About Fannie Mae

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.