Fannie Mae (OTCMKTS:FNMA) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Fannie Mae (OTCMKTS:FNMA) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.72 and traded as low as $6.09. Fannie Mae shares last traded at $6.12, with a volume of 1,326,331 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FNMA shares. BTIG Research lowered shares of Fannie Mae from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. B. Riley Financial decreased their price target on shares of Fannie Mae from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, Wedbush restated a “neutral” rating and issued a $8.00 price objective on shares of Fannie Mae in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.25.

Fannie Mae Stock Down 1.0%

The company has a market capitalization of $6.84 billion, a P/E ratio of 147.79 and a beta of 1.70. The business has a fifty day moving average price of $6.18 and a 200 day moving average price of $6.70.

Fannie Mae (OTCMKTS:FNMA) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Fannie Mae had a negative return on equity of 76.66% and a net margin of 4.59%.The business had revenue of $7.57 billion during the quarter, compared to the consensus estimate of $7.32 billion. As a group, equities analysts forecast that Fannie Mae will post 2.65 earnings per share for the current year.

Institutional Trading of Fannie Mae

A hedge fund recently bought a new stake in Fannie Mae stock. Ratan Capital Management LP acquired a new position in Fannie Mae (OTCMKTS:FNMA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 79,000 shares of the financial services provider’s stock, valued at approximately $514,000. 0.02% of the stock is currently owned by institutional investors and hedge funds.

Fannie Mae Company Profile

The Federal National Mortgage Association, commonly known as Fannie Mae (OTCMKTS:FNMA), is a government-sponsored enterprise established by Congress in 1938 as part of the New Deal to support the U.S. housing market. Headquartered in Washington, DC, Fannie Mae’s mission is to promote liquidity, stability and affordability in the mortgage market. The company operates by purchasing residential mortgage loans from financial institutions, pooling them into mortgage-backed securities (MBS), and providing guarantees to investors against borrower default.

In its core business, Fannie Mae works with mortgage lenders across the United States—including banks, credit unions and mortgage finance companies—to ensure a steady flow of capital for homebuyers and homeowners seeking refinancing.