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

Zedcor Inc. (CVE:ZDC) fell 16.3% during mid-day trading on Thursday . The stock traded as low as C$4.39 and last traded at C$4.78. 4,273,584 shares were traded 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.

Key Stories Impacting Zedcor

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Wall Street Analysts Forecast Growth

ZDC has been the subject of several research analyst reports. 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. National Bankshares boosted their price objective on Zedcor from C$5.50 to C$7.50 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Canaccord Genuity Group increased their target price on Zedcor from C$5.25 to C$7.00 in a report on Friday, October 17th. Finally, Desjardins set a C$7.50 price target on Zedcor and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat.com, Zedcor has an average rating of “Buy” and an average target price of C$7.54.

Zedcor Stock Down 16.3%

The stock has a market capitalization of C$504.59 million, a price-to-earnings ratio of 239.00 and a beta of 1.21. 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’s 50-day moving average is C$6.05 and its two-hundred day moving average is C$5.12.

Insider Activity at Zedcor

In other news, 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 value of C$12,900,000.00. Following the completion of the sale, the director directly owned 744,905 shares in the company, valued at C$4,804,637.25. This represents a 72.86% decrease in their ownership of the stock. Also, Director Dean Sylvan Swanberg sold 1,000,000 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of C$6.50, for a total value of C$6,500,000.00. Following the completion of 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 position. Over the last 90 days, insiders have sold 4,501,800 shares of company stock worth $28,785,530. 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.