Federal National Mortgage Association (OTCMKTS:FNMA) Stock Passes Below 50 Day Moving Average of $2.90

Federal National Mortgage Association (OTCMKTS:FNMA) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.90 and traded as low as $2.71. Federal National Mortgage Association shares last traded at $2.71, with a volume of 897,110 shares.

FNMA has been the subject of several analyst reports. B. Riley initiated coverage on shares of Federal National Mortgage Association in a report on Friday, April 5th. They issued a “neutral” rating and a $2.50 price objective for the company. Compass Point initiated coverage on shares of Federal National Mortgage Association in a report on Thursday, June 20th. They issued a “neutral” rating for the company.

The stock has a fifty day moving average of $2.91. The firm has a market capitalization of $3.12 billion, a P/E ratio of 134.50 and a beta of 2.49.

Federal National Mortgage Association (OTCMKTS:FNMA) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $0.01 EPS for the quarter. Federal National Mortgage Association had a net margin of 11.74% and a negative return on equity of 10.56%. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $6.53 billion.

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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