Freddie Mac (OTCMKTS:FMCC) Shares Gap Down – What’s Next?

Freddie Mac (OTCMKTS:FMCC)’s share price gapped down before the market opened on Friday . The stock had previously closed at $5.37, but opened at $5.09. Freddie Mac shares last traded at $5.45, with a volume of 160,088 shares.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FMCC shares. Keefe, Bruyette & Woods cut their price target on shares of Freddie Mac from $9.00 to $8.50 and set an “underperform” rating on the stock in a report on Monday, April 20th. BTIG Research downgraded shares of Freddie Mac from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. Wedbush began coverage on shares of Freddie Mac in a research note on Friday, July 31st. They issued an “outperform” rating and a $12.00 price objective on the stock. Finally, Mizuho began coverage on shares of Freddie Mac in a report on Monday, May 4th. They set an “outperform” rating and a $9.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.90.

Freddie Mac Stock Up 0.7%

The company has a market capitalization of $3.52 billion, a PE ratio of 541.54 and a beta of 1.70. The firm has a 50-day moving average of $5.75 and a two-hundred day moving average of $6.26.

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.