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

Freddie Mac (OTCMKTS:FMCC) gapped up before the market opened on Thursday . The stock had previously closed at $10.90, but opened at $11.20. Freddie Mac shares last traded at $10.82, with a volume of 423,741 shares traded.

Analysts Set New Price Targets

FMCC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Freddie Mac from $4.50 to $11.00 and gave the stock an “underperform” rating in a research note on Thursday, September 18th. Deutsche Bank Aktiengesellschaft assumed coverage on Freddie Mac in a research report on Thursday, September 11th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, 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. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Freddie Mac has an average rating of “Hold” and an average price target of $16.45.

Freddie Mac Stock Down 6.3%

The firm has a market capitalization of $6.70 billion, a PE ratio of -1,030.00 and a beta of 1.78. The firm’s 50 day moving average price is $10.15 and its two-hundred day moving average price is $9.42.

About Freddie Mac

Federal Home Loan Mortgage Corporation operates in the secondary mortgage market in the United States. It operates through two segments, Single-Family and Multifamily. The Single-Family segment purchases, securitizes, and guarantees single-family loans; and manages single-family mortgage credit and market risk, as well as manages mortgage-related investments portfolio, single-family securitization activities, and treasury functions.