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

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on FMCC. Zacks Research raised shares of Freddie Mac to a “hold” rating in a research note on Monday, December 15th. Keefe, Bruyette & Woods reduced their price objective on shares of Freddie Mac from $11.00 to $9.00 and set an “underperform” rating on the stock 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 target price for the company in a research report on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Freddie Mac has an average rating of “Hold” and a consensus price target of $15.78.

Freddie Mac Stock Performance

The firm has a market cap of $5.24 billion, a P/E ratio of -806.00 and a beta of 1.84. The firm has a fifty day moving average of $9.86 and a 200-day moving average of $9.78.

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.