Freddie Mac (OTCMKTS:FMCC) Trading Down 11.6% – Here’s Why

Freddie Mac (OTCMKTS:FMCC)’s share price dropped 11.6% during mid-day trading on Thursday . The stock traded as low as $8.82 and last traded at $9.07. Approximately 5,986,180 shares were traded during trading, an increase of 41% from the average daily volume of 4,247,597 shares. The stock had previously closed at $10.26.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FMCC. Keefe, Bruyette & Woods raised their price objective on Freddie Mac from $4.50 to $11.00 and gave the stock an “underperform” rating in a report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of Freddie Mac in a report on Thursday, September 11th. They set a “buy” rating and a $25.00 price objective on the stock. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.00.

Freddie Mac Stock Performance

The firm has a fifty day moving average of $11.02 and a 200 day moving average of $8.95. The firm has a market capitalization of $5.78 billion, a PE ratio of -296.33 and a beta of 2.06.

About Freddie Mac

Federal Home Loan Mortgage Corporation operates in the secondary mortgage market in the United States. It operates through two segments, Single-Family and Multifamily. The Single-Family segment purchases, securitizes, and guarantees single-family loans; and manages single-family mortgage credit and market risk, as well as manages mortgage-related investments portfolio, single-family securitization activities, and treasury functions.