Freddie Mac (OTCMKTS:FMCC) Shares Gap Up – Here’s What Happened

Freddie Mac (OTCMKTS:FMCC) gapped up before the market opened on Friday . The stock had previously closed at $4.41, but opened at $4.55. Freddie Mac shares last traded at $4.90, with a volume of 3,065,579 shares trading hands.

Analyst Ratings Changes

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

Freddie Mac Stock Up 3.4%

The stock has a market capitalization of $2.96 billion, a P/E ratio of -228.00 and a beta of 1.83. The firm’s 50-day simple moving average is $6.99 and its 200 day simple moving average is $9.43.

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.