Freddie Mac (OTCMKTS:FMCC) Sees Large Volume Increase – Still a Buy?

Shares of Freddie Mac (OTCMKTS:FMCC) saw strong trading volume on Thursday. 5,207,479 shares were traded during trading, an increase of 90% from the previous session’s volume of 2,738,559 shares. The stock last traded at $4.27 and had previously closed at $3.44.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FMCC shares. Mizuho set a $4.00 price objective on shares of Freddie Mac and gave the stock a “neutral” rating in a research report on Monday, October 12th. Keefe, Bruyette & Woods cut their price objective on shares of Freddie Mac from $6.50 to $3.50 and set an “underperform” rating on the stock in a research report on Monday, September 28th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $6.00 target price on shares of Freddie Mac in a research note on Thursday. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Freddie Mac currently has a consensus rating of “Hold” and a consensus price target of $8.38.

Freddie Mac Stock Performance

The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 371.37 and a beta of 1.74. The stock has a 50-day moving average of $4.54 and a 200-day moving average of $5.56.

About Freddie Mac

Freddie Mac, formally known as the Federal Home Loan Mortgage Corporation, is a government-sponsored enterprise focused on supporting liquidity, stability and affordability in the U.S. housing market. It operates primarily in the secondary mortgage market rather than making most home loans directly to consumers.

The company purchases residential mortgage loans from approved lenders, providing those institutions with funds to make additional loans. Freddie Mac also pools eligible mortgages into securities that it guarantees and sells to investors.