Fannie Mae (OTC:FNMA) Shares Up 4.2% – Time to Buy?

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

Wall Street Analyst Weigh In

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

Fannie Mae Stock Performance

The firm’s 50-day simple moving average is $6.45 and its 200-day simple moving average is $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.