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

Zedcor Inc. (CVE:ZDC)’s share price dropped 16.3% during trading on Thursday . The company traded as low as C$4.39 and last traded at C$4.78. Approximately 4,273,584 shares changed hands during mid-day trading, an increase of 205% from the average daily volume of 1,402,575 shares. The stock had previously closed at C$5.71.

Key Stories Impacting Zedcor

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Analysts Set New Price Targets

A number of analysts recently issued reports on ZDC shares. 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. National Bankshares lifted 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. Canaccord Genuity Group upped their price target on Zedcor from C$5.25 to C$7.00 in a research report on Friday, October 17th. Finally, Desjardins set a C$7.50 price target on shares of Zedcor and gave the stock a “buy” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$7.54.

Zedcor Stock Down 16.3%

The company has a market cap of C$504.59 million, a PE ratio of 239.00 and a beta of 1.21. The stock has a 50-day moving average of C$6.05 and a 200-day moving average of C$5.12. The company has a quick ratio of 0.87, a current ratio of 1.14 and a debt-to-equity ratio of 78.93.

Insider Activity

In other news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the business’s 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. Also, Director Dean Myles Shillington sold 2,000,000 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of C$6.45, for a total transaction of C$12,900,000.00. Following the completion of the transaction, the director owned 744,905 shares in the company, valued at approximately C$4,804,637.25. This trade represents a 72.86% decrease in their ownership of the stock. In the last ninety days, insiders sold 4,501,800 shares of company stock worth $28,785,530. Insiders own 30.15% of the company’s stock.

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.