Freddie Mac (OTCMKTS:FMCC) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Shares of Freddie Mac (OTCMKTS:FMCC) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.80 and traded as low as $7.03. Freddie Mac shares last traded at $7.09, with a volume of 4,341,182 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on FMCC shares. Keefe, Bruyette & Woods cut their target price on Freddie Mac from $11.00 to $9.00 and set an “underperform” rating on the stock in a report on Thursday, December 18th. BTIG Research assumed coverage on Freddie Mac in a report on Monday, January 26th. They set a “buy” rating and a $20.00 price objective on the stock. Wedbush raised Freddie Mac from an “underperform” rating to an “outperform” rating and set a $13.35 price objective on the stock in a research note on Friday, December 12th. Finally, Zacks Research raised Freddie Mac to a “hold” rating in a research report on Monday, December 15th. One investment 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 issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.84.

Freddie Mac Price Performance

The firm has a market capitalization of $4.50 billion, a P/E ratio of -346.50 and a beta of 1.79. The business has a 50 day moving average price of $9.06 and a 200 day moving average price of $9.81.

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.