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

Shares of Freddie Mac (OTCMKTS:FMCC) gapped up prior to trading on Tuesday . The stock had previously closed at $6.45, but opened at $6.93. Freddie Mac shares last traded at $7.05, with a volume of 2,482,403 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BTIG Research initiated coverage on shares of Freddie Mac in a research note on Monday, January 26th. They set a “buy” rating and a $20.00 target price for the company. Wedbush upgraded Freddie Mac from an “underperform” rating to an “outperform” rating and set a $13.35 price target on the stock in a research note on Friday, December 12th. Keefe, Bruyette & Woods cut their price objective on Freddie Mac from $11.00 to $9.00 and set an “underperform” rating for the company in a report on Thursday, December 18th. Finally, Zacks Research upgraded Freddie Mac to a “hold” rating in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Freddie Mac currently has an average rating of “Moderate Buy” and an average target price of $16.84.

Freddie Mac Trading Up 8.7%

The firm has a 50 day moving average price of $6.44 and a 200 day moving average price of $9.06. The stock has a market capitalization of $4.56 billion, a PE ratio of -350.50 and a beta of 1.83.

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.