Zedcor (CVE:ZDC) Stock Price Down 16.3% – What’s Next?

Zedcor Inc. (CVE:ZDC) shares traded down 16.3% during mid-day trading on Wednesday . The stock traded as low as C$4.39 and last traded at C$4.78. 4,273,584 shares were traded during mid-day trading, an increase of 205% from the average session volume of 1,402,575 shares. The stock had previously closed at C$5.71.

Wall Street Analysts Forecast Growth

ZDC has been the subject of several recent research reports. Desjardins set a C$7.50 price objective on Zedcor and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Ventum Financial set a C$8.70 price target on shares of Zedcor and gave the company a “buy” rating in a research note on Friday, December 12th. Canaccord Genuity Group raised their price objective on Zedcor from C$5.25 to C$7.00 in a report on Friday, October 17th. Finally, National Bankshares upped their target price on Zedcor from C$5.50 to C$7.50 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Zedcor currently has a consensus rating of “Buy” and a consensus target price of C$7.54.

Zedcor Stock Down 16.3%

The company has a debt-to-equity ratio of 78.93, a quick ratio of 0.87 and a current ratio of 1.14. The stock has a market cap of C$504.59 million, a P/E ratio of 239.00 and a beta of 1.21. The stock’s fifty day simple moving average is C$6.09 and its 200-day simple moving average is C$5.12.

Insiders Place Their Bets

In other news, Director Dean Myles Shillington sold 2,000,000 shares of Zedcor stock in a transaction on Monday, October 27th. The stock was sold at an average price of C$6.45, for a total value of C$12,900,000.00. Following the transaction, the director owned 744,905 shares in the company, valued at approximately C$4,804,637.25. This trade represents a 72.86% decrease in their position. Also, Director Dean Sylvan Swanberg sold 1,000,000 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of C$6.50, for a total value of C$6,500,000.00. Following the sale, the director owned 15,400,000 shares of the company’s stock, valued at approximately C$100,100,000. This represents a 6.10% decrease in their ownership of the stock. Over the last quarter, insiders have sold 4,501,800 shares of company stock valued at $28,785,530. Corporate insiders own 30.15% of the company’s stock.

Zedcor Company Profile

Zedcor Inc provides technology-based security and surveillance services in Canada. It engages in the provision of rental, service, and remote monitoring of its proprietary MobileyeZ security towers; surveillance and monitoring of fixed site locations; and security personnel. The company also engages in mobile and fixed surveillance, security guards, access control, and sensor related technology services. It serves customers in the construction, mining, oil and gas, pipeline and facilities, office, commercial, retail, industrial manufacturing, warehouse, and automotive sectors.