Shares of MBIA Inc. (MBI) Rise to a New 52-Week High

July 21, 2021 10:28:46

Shares of MBIA Inc. (NYSE:MBI) traded today at $11.73, eclipsing its 52-week high. This new high was reached on below average trading volume as 91,000 shares traded hands, while the average 30-day volume is approximately 403,000 shares.

In the past 52 weeks, MBIA Inc. share prices are bracketed by a low of $5.51 and a high of $11.73 and is now at $11.38, 106% above that low price.

MBIA Inc provides financial guaranty insurance for municipal bonds and asset-backed securities in the United States and internationally. It offers an unconditional guarantee to repay the principal and interest on these securities if the issuer defaults. MBIA insures bonds sold in the primary and secondary markets, as well as those held in unit investment trusts and by mutual funds. Many MBIA customers are secure public-sector entities.

There is potential upside of 37.9% for shares of MBIA Inc. based on a current price of $11.38 and an average consensus analyst price target of $15.69.

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