Freddie Mac (OTCMKTS:FMCC) Shares Gap Up – Here’s What Happened

Freddie Mac (OTCMKTS:FMCC)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $4.41, but opened at $4.55. Freddie Mac shares last traded at $4.90, with a volume of 3,065,579 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FMCC shares. Wedbush upgraded Freddie Mac from an “underperform” rating to an “outperform” rating and set a $13.35 target price on the stock in a report on Friday, December 12th. BTIG Research began coverage on Freddie Mac in a report on Monday, January 26th. They set a “buy” rating and a $20.00 target price for the company. Zacks Research upgraded Freddie Mac to a “hold” rating in a research report on Monday, December 15th. Finally, Keefe, Bruyette & Woods dropped their price target on Freddie Mac from $11.00 to $9.00 and set an “underperform” rating on the stock in a research note on Thursday, December 18th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Freddie Mac currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.84.

Freddie Mac Stock Up 3.4%

The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -228.00 and a beta of 1.83. The company has a 50-day moving average price of $6.99 and a 200 day moving average price of $9.43.

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.