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

Zedcor Inc. (CVE:ZDC)’s share price fell 16.3% during trading on Thursday . The stock traded as low as C$4.39 and last traded at C$4.78. 4,273,584 shares traded 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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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZDC. Canaccord Genuity Group increased their price objective on shares of Zedcor from C$5.25 to C$7.00 in a report on Friday, October 17th. 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 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 research note on Friday, December 12th. Finally, Desjardins set a C$7.50 price objective on Zedcor and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$7.54.

Zedcor Trading Up 1.9%

The firm has a market capitalization 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 firm’s 50 day moving average is C$5.99 and its 200 day moving average is C$5.14.

Insiders Place Their Bets

In other news, Director Dean Myles Shillington sold 2,000,000 shares of the firm’s stock in a transaction 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 sale, the director directly owned 744,905 shares of the company’s stock, valued at 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 Zedcor 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 completion of the transaction, the director owned 15,400,000 shares in the company, valued at C$100,100,000. The trade was a 6.10% decrease in their ownership of the stock. Insiders have sold a total of 4,501,800 shares of company stock valued at $28,785,530 in the last quarter. 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.