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

Shares of Zedcor Inc. (CVE:ZDC) dropped 16.3% during trading on Wednesday . 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.

Analyst Ratings Changes

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

Zedcor Trading Down 16.3%

The company’s fifty day moving average is C$6.09 and its two-hundred day moving average is C$5.12. 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 stock has a market cap of C$504.59 million, a price-to-earnings ratio of 239.00 and a beta of 1.21.

Insider Buying and Selling at Zedcor

In related 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 transaction, the director owned 744,905 shares in the company, 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 firm’s stock in a transaction on 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 completion of the sale, the director 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. Over the last ninety days, insiders have sold 4,501,800 shares of company stock valued at $28,785,530. Corporate 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.