Freddie Mac (OTCMKTS:FMCC) Sees Unusually-High Trading Volume – Here’s What Happened

Freddie Mac (OTCMKTS:FMCC) shares saw unusually-strong trading volume on Thursday . Approximately 2,761,577 shares changed hands during trading, an increase of 48% from the previous session’s volume of 1,866,528 shares.The stock last traded at $8.37 and had previously closed at $9.18.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Freddie Mac from $11.00 to $9.00 and set an “underperform” rating on the stock in a research note on Thursday, December 18th. Wedbush upgraded Freddie Mac from an “underperform” rating to an “outperform” rating and set a $13.35 target price for the company in a research note on Friday, December 12th. Finally, Zacks Research raised shares of Freddie Mac to a “hold” rating in a report on Monday, December 15th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.78.

Freddie Mac Price Performance

The stock’s 50 day simple moving average is $9.88 and its two-hundred day simple moving average is $9.79. The stock has a market cap of $5.58 billion, a P/E ratio of -858.00 and a beta of 1.84.

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.