Freddie Mac (OTCMKTS:FMCC) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Freddie Mac (OTCMKTS:FMCC)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.47 and traded as low as $5.58. Freddie Mac shares last traded at $5.8140, with a volume of 4,863,612 shares traded.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FMCC. Mizuho began coverage on Freddie Mac in a research report on Monday, May 4th. They issued an “outperform” rating and a $9.00 target price for the company. Keefe, Bruyette & Woods reduced their price target on Freddie Mac from $9.00 to $8.50 and set an “underperform” rating for the company in a research report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.17.

Freddie Mac Price Performance

The company has a 50-day moving average price of $6.49 and a two-hundred day moving average price of $7.47.

Freddie Mac (OTCMKTS:FMCC) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $5.61 billion. Freddie Mac had a negative return on equity of 65.39% and a net margin of 8.61%. As a group, analysts anticipate that Freddie Mac will post 0.01 EPS for the current year.

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.