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

Zedcor Inc. (CVE:ZDC) shares fell 16.3% during mid-day 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 mid-day 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 Zedcor News

Here are the key news stories impacting Zedcor this week:

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Analyst Ratings Changes

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

Zedcor Stock Down 16.3%

The company’s 50 day simple moving average is C$6.05 and its 200-day simple moving average is 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 firm has a market cap of C$504.59 million, a P/E ratio of 239.00 and a beta of 1.21.

Insider Buying and Selling

In other Zedcor news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of C$6.50, for a total transaction of C$6,500,000.00. Following the completion of the sale, the director directly owned 15,400,000 shares in the company, valued at approximately C$100,100,000. The trade was a 6.10% decrease in their position. 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 transaction, the director directly owned 744,905 shares in the company, valued at C$4,804,637.25. The trade was a 72.86% decrease in their ownership of the stock. In the last 90 days, insiders have sold 4,501,800 shares of company stock worth $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.