Freddie Mac (OTCMKTS:FMCC) Reaches New 1-Year Low – What’s Next?

Shares of Freddie Mac (OTCMKTS:FMCC) hit a new 52-week low during trading on Wednesday . The stock traded as low as $4.05 and last traded at $4.40, with a volume of 3271846 shares trading hands. The stock had previously closed at $4.80.

Analysts Set New Price Targets

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

Freddie Mac Trading Up 8.6%

The stock has a market capitalization of $2.87 billion, a PE ratio of -220.50 and a beta of 1.83. The business’s 50 day moving average is $6.99 and its 200 day moving average is $9.43.

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.