Freddie Mac (OTCMKTS:FMCC) Sees Strong Trading Volume – Here’s What Happened

Freddie Mac (OTCMKTS:FMCC) shares saw an uptick in trading volume on Thursday . 2,761,577 shares were traded during mid-day trading, an increase of 48% from the previous session’s volume of 1,866,528 shares.The stock last traded at $8.37 and had previously closed at $9.18.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FMCC. Wedbush raised shares of Freddie Mac from an “underperform” rating to an “outperform” rating and set a $13.35 target price for the company in a research report on Friday, December 12th. Keefe, Bruyette & Woods reduced their price objective on shares of Freddie Mac from $11.00 to $9.00 and set an “underperform” rating on the stock in a research note on Thursday, December 18th. Finally, Zacks Research raised shares of Freddie Mac to a “hold” rating in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.78.

Freddie Mac Stock Down 12.7%

The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of -768.00 and a beta of 1.84. The company has a 50 day simple moving average of $9.82 and a 200-day simple moving average of $9.78.

About Freddie Mac

Freddie Mac (OTCMKTS:FMCC), officially the Federal Home Loan Mortgage Corporation, is a government-sponsored enterprise chartered by Congress in 1970 to enhance liquidity and stability in the U.S. housing finance system. Headquartered in McLean, Virginia, the company operates under the supervision of the Federal Housing Finance Agency (FHFA) and carries a congressional mandate to support affordable, sustainable homeownership and rental housing markets nationwide.

The company’s primary business activities involve purchasing mortgage loans from approved lenders, pooling them into mortgage-backed securities (MBS), and guaranteeing the timely payment of principal and interest to investors.