Freddie Mac (OTCMKTS:FMCC - Get Free Report) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.23 and traded as low as $5.97. Freddie Mac shares last traded at $6.21, with a volume of 2,585,232 shares changing hands.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on FMCC. Keefe, Bruyette & Woods cut their target price on shares of Freddie Mac from $9.00 to $8.50 and set an "underperform" rating for the company in a research report on Monday, April 20th. BTIG Research began coverage on shares of Freddie Mac in a research report on Monday, January 26th. They set a "buy" rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.71.
Check Out Our Latest Stock Analysis on FMCC
Freddie Mac Price Performance
The firm has a market capitalization of $4.04 billion, a P/E ratio of -310.50 and a beta of 1.79. The stock's 50-day simple moving average is $6.06 and its two-hundred day simple moving average is $8.23.
About Freddie Mac
(
Get Free Report)
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.
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