Zedcor (CVE:ZDC) Trading Down 17.5% – Here’s What Happened

Zedcor Inc. (CVE:ZDC)’s share price dropped 17.5% on Wednesday . The stock traded as low as C$4.39 and last traded at C$4.71. Approximately 3,371,482 shares traded hands during mid-day trading, an increase of 188% from the average daily volume of 1,172,186 shares. The stock had previously closed at C$5.71.

Analyst Ratings Changes

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

Zedcor Stock Performance

The company has a 50-day simple moving average of C$6.09 and a two-hundred day simple moving average of 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$483.48 million, a P/E ratio of 229.00 and a beta of 1.21.

Insider Activity at Zedcor

In other news, Director Dean Myles Shillington sold 2,000,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of C$6.45, for a total value of C$12,900,000.00. Following 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 the stock in a transaction dated 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 completion of the transaction, the director owned 15,400,000 shares of the company’s stock, valued at approximately C$100,100,000. The trade was a 6.10% decrease in their ownership of the stock. Insiders have sold 4,501,800 shares of company stock worth $28,785,530 over the last 90 days. 30.15% of the stock is currently owned by corporate insiders.

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.