Freddie Mac (OTCMKTS:FMCC) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Freddie Mac (OTCMKTS:FMCC)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.49 and traded as low as $5.47. Freddie Mac shares last traded at $5.5824, with a volume of 1,738,622 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Mizuho started coverage on Freddie Mac in a report on Monday, May 4th. They set an “outperform” rating and a $9.00 price objective for the company. Keefe, Bruyette & Woods decreased their price objective on shares of Freddie Mac from $9.00 to $8.50 and set an “underperform” rating on the stock in a research report on Monday, April 20th. Finally, BTIG Research downgraded shares of Freddie Mac from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.17.

Freddie Mac Stock Down 1.2%

The stock’s fifty day moving average price is $5.90 and its two-hundred day moving average price is $6.46.

Freddie Mac (OTCMKTS:FMCC) last issued its earnings results on Thursday, April 30th. The company reported $0.01 EPS for the quarter. The company had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $5.61 billion. Freddie Mac had a net margin of 8.61% and a negative return on equity of 65.39%. On average, research analysts predict that Freddie Mac will post 0.01 earnings per share for the current year.

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.