Freddie Mac (OTCMKTS:FMCC) Shares Gap Up – Should You Buy?

Shares of Freddie Mac (OTCMKTS:FMCC) gapped up before the market opened on Thursday . The stock had previously closed at $7.69, but opened at $8.49. Freddie Mac shares last traded at $7.78, with a volume of 1,079,289 shares trading hands.

Analyst Ratings Changes

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

Freddie Mac Stock Down 1.6%

The company has a market capitalization of $4.92 billion, a P/E ratio of -757.00 and a beta of 1.79. The business has a fifty day moving average price of $9.46 and a 200 day moving average price of $9.80.

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.