Fannie Mae (OTCMKTS:FNMA) Stock Price Breaks Above 50-Day Moving Average – What’s Next?

Shares of Fannie Mae (OTCMKTS:FNMA) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $4.81 and traded as high as $5.25. Fannie Mae shares last traded at $5.11, with a volume of 6,940,318 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. B. Riley Financial decreased their price target on shares of Fannie Mae from $7.00 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday. Wedbush initiated coverage on shares of Fannie Mae in a report on Thursday, October 22nd. They issued a “hold” rating and a $3.50 price target on the stock. Keefe, Bruyette & Woods decreased their target price on Fannie Mae from $6.25 to $3.50 and set an “underperform” rating for the company in a report on Monday, September 28th. Finally, Mizuho lowered Fannie Mae from an “outperform” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a research report on Monday, October 12th. Five research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Fannie Mae presently has an average rating of “Reduce” and an average target price of $7.30.

Fannie Mae Trading Up 6.5%

The stock has a market capitalization of $5.92 billion, a P/E ratio of 23.23 and a beta of 1.68. The stock’s 50 day simple moving average is $4.81 and its 200 day simple moving average is $6.44.

Fannie Mae (OTCMKTS:FNMA) last released its earnings results on Wednesday, October 28th. The financial services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.06. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.45 billion. Fannie Mae had a net margin of 5.16% and a negative return on equity of 82.92%. On average, sell-side analysts expect that Fannie Mae will post 2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Fannie Mae

A hedge fund recently bought a new stake in Fannie Mae stock. Ratan Capital Management LP acquired a new stake in shares of Fannie Mae (OTCMKTS:FNMA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 79,000 shares of the financial services provider’s stock, valued at approximately $514,000. 0.02% of the stock is owned by institutional investors.

Fannie Mae Company Profile

Fannie Mae, formally known as the Federal National Mortgage Association, is a government-sponsored enterprise that supports the U.S. housing finance system. It operates in the secondary mortgage market, purchasing qualifying residential mortgage loans from approved lenders and helping provide liquidity so those lenders can continue offering mortgage financing to homebuyers and homeowners.

Fannie Mae finances its activities primarily by issuing debt and mortgage-backed securities. It also guarantees certain mortgage-backed securities, helping connect mortgage lenders with institutional investors.