Freddie Mac (OTCMKTS:FMCC) Shares Up 7.5% – What’s Next?

Freddie Mac (OTCMKTS:FMCC) shares were up 7.5% on Wednesday . The company traded as high as $7.99 and last traded at $7.99. Approximately 1,724,144 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 2,995,448 shares. The stock had previously closed at $7.43.

Analyst Ratings Changes

FMCC has been the topic of a number of research analyst reports. Zacks Research raised shares of Freddie Mac to a “hold” rating in a research report 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. Finally, Keefe, Bruyette & Woods lowered their price target 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. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Freddie Mac has a consensus rating of “Hold” and an average price target of $15.78.

Freddie Mac Stock Performance

The stock’s 50-day simple moving average is $9.73 and its two-hundred day simple moving average is $9.78. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of -800.00 and a beta of 1.84.

Freddie Mac Company Profile

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.