Freddie Mac (OTCMKTS:FMCC) Shares Up 10.2% – Time to Buy?

Shares of Freddie Mac (OTCMKTS:FMCC) rose 10.2% during trading on Wednesday . The company traded as high as $6.25 and last traded at $6.19. Approximately 1,949,269 shares were traded during mid-day trading, a decline of 37% from the average session volume of 3,082,233 shares. The stock had previously closed at $5.6170.

Analyst Upgrades and Downgrades

FMCC has been the subject of several research analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of Freddie Mac from $9.00 to $8.50 and set an “underperform” rating for the company in a research note on Monday, April 20th. BTIG Research cut Freddie Mac from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Finally, Mizuho began coverage on Freddie Mac in a report on Monday, May 4th. They set an “outperform” rating and a $9.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.17.

Freddie Mac Stock Performance

The company’s fifty day moving average is $6.42 and its 200-day moving average is $7.21.

Freddie Mac (OTCMKTS:FMCC) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $5.61 billion. Freddie Mac had a negative return on equity of 65.39% and a net margin of 8.61%. As a group, equities analysts predict that Freddie Mac will post 0.01 EPS for the current year.

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.