Freddie Mac (OTCMKTS:FMCC) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Freddie Mac (OTCMKTS:FMCC)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.82 and traded as low as $7.21. Freddie Mac shares last traded at $7.2950, with a volume of 1,114,957 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research raised Freddie Mac to a “hold” rating in a research note on Monday, December 15th. 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 note on Friday, December 12th. BTIG Research assumed coverage on shares of Freddie Mac in a research report on Monday, January 26th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Freddie Mac from $11.00 to $9.00 and set an “underperform” rating on the stock in a report on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.84.

Freddie Mac Trading Up 0.1%

The business has a 50-day moving average of $8.69 and a two-hundred day moving average of $9.84. The firm has a market cap of $4.74 billion, a P/E ratio of -364.75 and a beta of 1.79.

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.