Freddie Mac (OTCMKTS:FMCC) Stock Price Down 10.5% – What’s Next?

Freddie Mac (OTCMKTS:FMCC) shares traded down 10.5% during mid-day trading on Friday . The company traded as low as $7.88 and last traded at $7.88. 2,876,130 shares changed hands during mid-day trading, an increase of 19% from the average session volume of 2,424,235 shares. The stock had previously closed at $8.80.

Analyst Upgrades and Downgrades

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

Freddie Mac Stock Down 12.7%

The business has a 50-day moving average price of $9.82 and a 200-day moving average price of $9.79. The firm has a market capitalization of $4.99 billion, a P/E ratio of -768.00 and a beta of 1.84.

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.