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

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

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Analysts Set New Price Targets

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

Zedcor Price Performance

The firm has a market capitalization of C$504.59 million, a P/E ratio of 239.00 and a beta of 1.21. 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 business’s fifty day moving average is C$6.05 and its 200 day moving average is C$5.12.

Insider Buying and Selling at Zedcor

In other news, 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 transaction of C$12,900,000.00. Following the completion of the sale, the director owned 744,905 shares in the company, valued at approximately 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 firm’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 approximately C$100,100,000. This represents a 6.10% decrease in their ownership of the stock. Insiders sold 4,501,800 shares of company stock worth $28,785,530 in the last ninety days. 30.15% of the stock is owned by corporate 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.