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

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 changed hands during trading, an increase of 205% from the average session volume of 1,402,575 shares. The stock had previously closed at C$5.71.

More Zedcor News

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Analyst Ratings Changes

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

Zedcor Trading Down 16.3%

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

Insider Buying and Selling at Zedcor

In related news, 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 transaction, the director 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 position. Also, Director Dean Myles Shillington sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were 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 directly owned 744,905 shares of the company’s stock, valued at approximately C$4,804,637.25. The trade was a 72.86% decrease in their position. Insiders sold a total of 4,501,800 shares of company stock worth $28,785,530 in the last quarter. Company 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.