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

Shares of Zedcor Inc. (CVE:ZDC) dropped 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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Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Ventum Financial set a C$8.70 price target on shares of Zedcor and gave the stock a “buy” rating in a research report on Friday, December 12th. 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. Canaccord Genuity Group raised their price target on shares of Zedcor from C$5.25 to C$7.00 in a report on Friday, October 17th. Finally, National Bankshares upped their price objective on Zedcor from C$5.50 to C$7.50 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to MarketBeat, Zedcor currently has a consensus rating of “Buy” and an average price target of C$7.54.

Zedcor Stock Performance

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 company has a market cap of C$504.59 million, a price-to-earnings ratio of 239.00 and a beta of 1.21. The firm’s 50-day moving average price is C$6.05 and its 200 day moving average price 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 value of C$12,900,000.00. Following the transaction, the director 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 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 completion of the transaction, the director owned 15,400,000 shares in the company, valued at C$100,100,000. This represents a 6.10% decrease in their ownership of the stock. Insiders have sold a total of 4,501,800 shares of company stock valued at $28,785,530 in the last quarter. 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.