Fannie Mae (OTC:FNMA) Stock Price Up 4.2% – Still a Buy?

Fannie Mae (OTC:FNMA)’s stock price rose 4.2% during mid-day trading on Friday . The stock traded as high as $6.65 and last traded at $6.55. Approximately 8,838,147 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 12,334,749 shares. The stock had previously closed at $6.29.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods downgraded Fannie Mae from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $2.00 to $3.00 in a research report on Wednesday, November 20th.

Fannie Mae Trading Down 2.3 %

The business has a 50 day simple moving average of $6.45 and a two-hundred day simple moving average of $4.71.

Fannie Mae Company Profile

Federal National Mortgage Association provides a source of financing for mortgages in the United States. It securitizes mortgage loans originated by lenders into Fannie Mae mortgage-backed securities (Fannie Mae MBS). The company 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.