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

Zedcor Inc. (CVE:ZDC)’s share price dropped 16.3% on Wednesday . The stock 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 Zedcor News

Here are the key news stories impacting Zedcor this week:

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Wall Street Analysts Forecast Growth

Several research firms have recently commented on ZDC. National Bankshares raised their target price on shares of Zedcor from C$5.50 to C$7.50 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Desjardins set a C$7.50 price target on shares of Zedcor and gave the company 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, Ventum Financial set a C$8.70 price objective on shares of Zedcor and gave the company a “buy” rating in a research report on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$7.54.

Zedcor Price Performance

The company has a market cap of C$576.37 million, a PE ratio of 273.00 and a beta of 1.21. The firm’s 50-day moving average is C$5.99 and its 200-day moving average is C$5.14. 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 at Zedcor

In related news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the company’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 C$100,100,000. This represents a 6.10% decrease in their ownership of the stock. Also, 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 completion of the transaction, the director owned 744,905 shares of the company’s stock, valued at approximately C$4,804,637.25. This trade represents a 72.86% decrease in their position. Insiders sold a total of 4,501,800 shares of company stock valued at $28,785,530 in the last three months. Corporate 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.