Fannie Mae (OTCMKTS:FNMA) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Fannie Mae (OTCMKTS:FNMA) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.75 and traded as low as $8.2275. Fannie Mae shares last traded at $8.28, with a volume of 2,177,237 shares.

Wall Street Analysts Forecast Growth

FNMA has been the subject of several analyst reports. Zacks Research upgraded Fannie Mae from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wedbush began coverage on Fannie Mae in a research note on Tuesday, November 25th. They set an “outperform” rating and a $11.50 price objective for the company. B. Riley Financial upgraded shares of Fannie Mae to a “hold” rating in a report on Wednesday, October 29th. Finally, BTIG Research began coverage on shares of Fannie Mae in a report on Monday, January 26th. They set a “buy” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Fannie Mae currently has an average rating of “Moderate Buy” and a consensus target price of $14.30.

Fannie Mae Stock Up 0.1%

The company’s fifty day simple moving average is $10.14 and its 200 day simple moving average is $10.75. The firm has a market capitalization of $9.59 billion, a PE ratio of 4.49 and a beta of 1.73.

About Fannie Mae

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.