Freddie Mac (OTCMKTS:FMCC) Stock Price Up 7.5% – Still a Buy?

Freddie Mac (OTCMKTS:FMCC) shares rose 7.5% during mid-day trading on Wednesday . The stock traded as high as $7.99 and last traded at $7.99. Approximately 1,724,144 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 2,995,448 shares. The stock had previously closed at $7.43.

Wall Street Analyst Weigh In

A number of research firms have commented on FMCC. Keefe, Bruyette & Woods reduced their price objective on shares of Freddie Mac from $11.00 to $9.00 and set an “underperform” rating for the company in a research note on Thursday, December 18th. Zacks Research raised shares of Freddie Mac to a “hold” rating in a research note on Monday, December 15th. Finally, Wedbush raised Freddie Mac from an “underperform” rating to an “outperform” rating and set a $13.35 price target for the company in a research note on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.78.

Freddie Mac Stock Up 14.3%

The firm has a 50-day moving average price of $9.73 and a two-hundred day moving average price of $9.80. The company has a market capitalization of $5.52 billion, a P/E ratio of -849.00 and a beta of 1.84.

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.