Zedcor (CVE:ZDC) Trading Down 16.3% – Here’s What Happened

Zedcor Inc. (CVE:ZDC)’s share price traded down 16.3% on Thursday . The company traded as low as C$4.39 and last traded at C$4.78. 4,273,584 shares changed hands during trading, an increase of 205% from the average session volume of 1,402,575 shares. The stock had previously closed at C$5.71.

More Zedcor News

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Wall Street Analyst Weigh In

Several research firms have commented on ZDC. Desjardins set a C$7.50 price objective on Zedcor and gave the company a “buy” rating in a research report on Thursday, October 23rd. Ventum Financial set a C$8.70 target price on Zedcor and gave the company a “buy” rating in a report on Friday, December 12th. Canaccord Genuity Group boosted their price target on Zedcor from C$5.25 to C$7.00 in a research report on Friday, October 17th. Finally, National Bankshares upped their price target 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 issued a Buy rating to the company. According to data from MarketBeat, Zedcor has a consensus rating of “Buy” and an average target price of C$7.54.

Zedcor Stock Performance

The firm has a market cap of C$576.37 million, a price-to-earnings ratio of 273.00 and a beta of 1.21. 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 company has a 50 day moving average of C$5.99 and a 200 day moving average of C$5.14.

Insider Buying and Selling

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