Freddie Mac (OTCMKTS:FMCC) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Freddie Mac (OTCMKTS:FMCC)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.82 and traded as low as $7.21. Freddie Mac shares last traded at $7.2950, with a volume of 1,114,957 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FMCC. Keefe, Bruyette & Woods reduced their target price on shares of Freddie Mac from $11.00 to $9.00 and set an “underperform” rating for the company in a research note on Thursday, December 18th. Wedbush raised shares of Freddie Mac from an “underperform” rating to an “outperform” rating and set a $13.35 price objective for the company in a research note on Friday, December 12th. Zacks Research upgraded shares of Freddie Mac to a “hold” rating in a report on Monday, December 15th. Finally, 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 on the stock. One equities research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $16.84.

Freddie Mac Trading Up 0.1%

The stock has a market cap of $4.74 billion, a P/E ratio of -364.75 and a beta of 1.79. The firm’s fifty day moving average is $8.69 and its 200 day moving average is $9.82.

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.