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

Freddie Mac (OTCMKTS:FMCC)’s share 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 traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. BTIG Research began coverage on shares of Freddie Mac in a research note on Monday, January 26th. They issued a “buy” rating and a $20.00 price objective for the company. Zacks Research upgraded Freddie Mac to a “hold” rating in a report on Monday, December 15th. Keefe, Bruyette & Woods decreased their target price on Freddie Mac from $11.00 to $9.00 and set an “underperform” rating for the company in a research report on Thursday, December 18th. Finally, Wedbush upgraded Freddie Mac from an “underperform” rating to an “outperform” rating and set a $13.35 price target on the stock in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.84.

Freddie Mac Trading Up 0.1%

The business’s 50-day simple moving average is $8.69 and its 200-day simple moving average is $9.82. The company has a market cap of $4.74 billion, a PE 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.