Zedcor (CVE:ZDC) Shares Down 16.6% – Here’s Why

Shares of Zedcor Inc. (CVE:ZDC) fell 16.6% on Wednesday . The company traded as low as C$4.39 and last traded at C$4.76. 3,164,198 shares traded hands during mid-day trading, an increase of 186% from the average session volume of 1,107,573 shares. The stock had previously closed at C$5.71.

Wall Street Analyst Weigh In

ZDC has been the topic of a number of recent research reports. 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 upped their target price on shares of Zedcor from C$5.25 to C$7.00 in a research report on Friday, October 17th. 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, 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. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$7.54.

Zedcor Price Performance

The stock has a 50 day moving average of C$6.09 and a 200-day moving average of C$5.12. The company has a current ratio of 1.14, a quick ratio of 0.87 and a debt-to-equity ratio of 78.93. The stock has a market capitalization of C$492.98 million, a P/E ratio of 233.50 and a beta of 1.21.

Insider Transactions at Zedcor

In other news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of C$6.50, for a total value of C$6,500,000.00. Following the transaction, the director directly owned 15,400,000 shares in the company, valued at approximately C$100,100,000. This represents a 6.10% decrease in their ownership of the stock. Also, Director Dean Myles Shillington sold 2,000,000 shares of the firm’s stock in a transaction dated 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 C$4,804,637.25. This represents a 72.86% decrease in their position. Over the last 90 days, insiders sold 4,501,800 shares of company stock worth $28,785,530. Company 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.