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

Shares of Zedcor Inc. (CVE:ZDC) 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 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.

Zedcor News Roundup

Here are the key news stories impacting Zedcor this week:

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Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Canaccord Genuity Group raised their target price on Zedcor from C$5.25 to C$7.00 in a research note on Friday, October 17th. Ventum Financial set a C$8.70 price objective on Zedcor and gave the stock a “buy” rating in a report on Friday, December 12th. Desjardins set a C$7.50 price objective on Zedcor and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, National Bankshares upped their target price on Zedcor from C$5.50 to C$7.50 and gave the company an “outperform” rating in a report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average 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$6.05 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$504.59 million, a P/E ratio of 239.00 and a beta of 1.21.

Insider Activity at Zedcor

In related 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 value of C$6,500,000.00. Following the sale, the director directly owned 15,400,000 shares of the company’s stock, valued at 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 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 transaction, the director owned 744,905 shares of the company’s stock, valued at approximately C$4,804,637.25. This trade represents a 72.86% decrease in their position. 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.