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

Shares of Zedcor Inc. (CVE:ZDC) were down 16.3% on Thursday . The company traded as low as C$4.39 and last traded at C$4.78. Approximately 4,273,584 shares changed hands 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.

Trending Headlines about Zedcor

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Wall Street Analysts Forecast Growth

ZDC has been the subject of several recent analyst 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. Canaccord Genuity Group raised their price target on shares of Zedcor from C$5.25 to C$7.00 in a research note on Friday, October 17th. Ventum Financial set a C$8.70 price target on shares of Zedcor and gave the company a “buy” rating in a report on Friday, December 12th. Finally, National Bankshares increased their price objective on shares of Zedcor from C$5.50 to C$7.50 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Two investment 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, Zedcor has an average rating of “Buy” and a consensus target price of C$7.54.

Zedcor Stock Performance

The company has a market capitalization of C$576.37 million, a P/E ratio of 273.00 and a beta of 1.21. The company has a debt-to-equity ratio of 78.93, a current ratio of 1.14 and a quick ratio of 0.87. The company has a fifty day moving average price of C$5.99 and a two-hundred day moving average price of C$5.14.

Insider Buying and Selling

In other news, Director Dean Sylvan Swanberg sold 1,000,000 shares of Zedcor stock in a transaction on Monday, October 27th. The shares were sold at an average price of C$6.50, for a total transaction of C$6,500,000.00. Following 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. Also, Director Dean Myles Shillington sold 2,000,000 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of C$6.45, for a total value of C$12,900,000.00. Following the completion of the sale, the director owned 744,905 shares of the company’s stock, valued at C$4,804,637.25. The trade was a 72.86% decrease in their ownership of the stock. Insiders have sold a total of 4,501,800 shares of company stock worth $28,785,530 over the last three months. Insiders own 30.15% of the company’s stock.

About Zedcor

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.