Federal National Mortgage Association (OTCMKTS:FNMA) Shares Pass Above 50 Day Moving Average of $2.55

Federal National Mortgage Association (OTCMKTS:FNMA) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.55 and traded as high as $2.39. Federal National Mortgage Association shares last traded at $2.32, with a volume of 1,848,425 shares traded.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Federal National Mortgage Association from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a report on Friday, August 2nd. B. Riley set a $2.00 price target on Federal National Mortgage Association and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, Compass Point started coverage on Federal National Mortgage Association in a research report on Thursday, June 20th. They set a “neutral” rating on the stock.

The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 4.07 and a beta of 2.28. The stock has a 50-day moving average of $2.54.

About Federal National Mortgage Association (OTCMKTS:FNMA)

Federal National Mortgage Association provides a source of liquidity to the mortgage market and supports the availability and affordability of housing in the United States. It securitizes mortgage loans originated by lenders into Fannie Mae mortgage-backed securities (Fannie Mae MBS). The company operates in two segments, Single-Family and Multifamily.

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