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

Zedcor Inc. (CVE:ZDC)’s share price fell 16.3% during mid-day trading on Wednesday . 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 research firms have commented on ZDC. 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. National Bankshares raised 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. Ventum Financial set a C$8.70 price objective on Zedcor and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Canaccord Genuity Group lifted their target price on shares of Zedcor from C$5.25 to C$7.00 in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. Based on 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 price of C$6.05 and a two-hundred day moving average price of C$5.12. 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 firm has a market capitalization of C$504.59 million, a price-to-earnings ratio of 239.00 and a beta of 1.21.

Insider Activity

In related news, Director Dean Myles Shillington sold 2,000,000 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was 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 directly owned 744,905 shares of the company’s stock, valued at C$4,804,637.25. This represents a 72.86% decrease in their position. Also, 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 completion of the transaction, the director directly owned 15,400,000 shares in the company, valued at C$100,100,000. The trade was a 6.10% decrease in their ownership of the stock. In the last ninety days, insiders have sold 4,501,800 shares of company stock worth $28,785,530. Corporate 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.