Zedcor (CVE:ZDC) Shares Down 16.3% – Here’s Why

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

Key Stories Impacting Zedcor

Here are the key news stories impacting Zedcor this week:

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Wall Street Analyst Weigh In

A number of brokerages have issued reports on ZDC. National Bankshares upped their price objective on Zedcor from C$5.50 to C$7.50 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Ventum Financial set a C$8.70 price target on Zedcor and gave the company a “buy” rating in a report on Friday, December 12th. Desjardins set a C$7.50 price target on Zedcor and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Canaccord Genuity Group lifted their price objective on shares of Zedcor from C$5.25 to C$7.00 in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$7.54.

Zedcor Stock Performance

The company has a quick ratio of 0.87, a current ratio of 1.14 and a debt-to-equity ratio of 78.93. The business has a 50 day moving average price of C$5.99 and a 200 day moving average price of C$5.14. The stock has a market cap of C$576.37 million, a P/E ratio of 273.00 and a beta of 1.21.

Insider Buying and Selling at Zedcor

In other news, Director Dean Myles Shillington sold 2,000,000 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of C$6.45, for a total transaction of C$12,900,000.00. Following the completion of the sale, the director directly owned 744,905 shares of the company’s stock, valued at approximately C$4,804,637.25. The trade was a 72.86% decrease in their ownership of the stock. Also, Director Dean Sylvan Swanberg sold 1,000,000 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of C$6.50, for a total transaction of C$6,500,000.00. Following the completion of the transaction, the director owned 15,400,000 shares in the company, valued at approximately C$100,100,000. The trade was a 6.10% decrease in their ownership of the stock. Insiders sold a total of 4,501,800 shares of company stock worth $28,785,530 in the last ninety days. 30.15% of the stock is currently owned by corporate insiders.

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.