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

Shares of Zedcor Inc. (CVE:ZDC) traded down 16.3% on Thursday . The company traded as low as C$4.39 and last traded at C$4.78. 4,273,584 shares traded hands 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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Analyst Ratings Changes

ZDC has been the topic of a number of research analyst reports. Desjardins set a C$7.50 price target on shares of Zedcor and gave the stock a “buy” rating in a report on Thursday, October 23rd. Ventum Financial set a C$8.70 target price on shares of Zedcor and gave the stock a “buy” rating in a research note on Friday, December 12th. 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 research report on Thursday, October 9th. Finally, Canaccord Genuity Group boosted their price target on Zedcor from C$5.25 to C$7.00 in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$7.54.

Zedcor Trading Up 1.9%

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 stock’s 50 day moving average is C$5.99 and its two-hundred day moving average is C$5.14. The company has a market capitalization of C$576.37 million, a PE ratio of 273.00 and a beta of 1.21.

Insider Activity at Zedcor

In related news, Director Dean Myles Shillington sold 2,000,000 shares of Zedcor 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 transaction, the director directly owned 744,905 shares of the company’s stock, valued at C$4,804,637.25. This trade represents a 72.86% decrease in their ownership of the stock. Also, Director Dean Sylvan Swanberg sold 1,000,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 15,400,000 shares of the company’s stock, valued at C$100,100,000. This trade represents a 6.10% decrease in their position. Insiders sold a total of 4,501,800 shares of company stock valued at $28,785,530 in the last ninety days. 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.