Zedcor (CVE:ZDC) Shares Down 16.3% – What’s Next?

Zedcor Inc. (CVE:ZDC) shares fell 16.3% during mid-day trading on Thursday . The company 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.

Key Stories Impacting Zedcor

Here are the key news stories impacting Zedcor this week:

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Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Desjardins set a C$7.50 price objective on Zedcor and gave the company a “buy” rating in a report on Thursday, October 23rd. Ventum Financial set a C$8.70 target price on shares of Zedcor and gave the company a “buy” rating in a research report on Friday, December 12th. Canaccord Genuity Group boosted their price target on shares of Zedcor from C$5.25 to C$7.00 in a report on Friday, October 17th. Finally, National Bankshares upped their price target on shares of Zedcor from C$5.50 to C$7.50 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Two research 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, the company has a consensus rating of “Buy” and an average target price of C$7.54.

Zedcor Stock Down 16.3%

The business’s fifty day moving average price is C$6.05 and its two-hundred day moving average price is C$5.12. The company has a debt-to-equity ratio of 78.93, a quick ratio of 0.87 and a current ratio of 1.14. The firm has a market capitalization of C$504.59 million, a P/E ratio of 239.00 and a beta of 1.21.

Insider Activity at Zedcor

In other news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the company’s stock in a transaction 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 transaction, the director directly owned 15,400,000 shares of the company’s stock, 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 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 sale, the director owned 744,905 shares of the company’s stock, valued at approximately 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 valued at $28,785,530. 30.15% of the stock is owned by insiders.

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.