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

Zedcor Inc. (CVE:ZDC) was down 16.3% on Wednesday . The company traded as low as C$4.39 and last traded at C$4.78. Approximately 4,273,584 shares were traded 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 Stories Impacting Zedcor

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Analyst Ratings Changes

Several brokerages have commented on ZDC. Canaccord Genuity Group lifted their target price on Zedcor from C$5.25 to C$7.00 in a report on Friday, October 17th. Desjardins set a C$7.50 price objective on Zedcor and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Ventum Financial set a C$8.70 target price on shares of Zedcor and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, National Bankshares raised their price target 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. Two equities research 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.com, Zedcor currently has a consensus rating of “Buy” and an average target price of C$7.54.

Zedcor Stock Performance

The stock has a market capitalization of C$504.59 million, a P/E ratio of 239.00 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.87 and a debt-to-equity ratio of 78.93. The company has a 50-day moving average price of C$6.05 and a two-hundred day moving average price of C$5.12.

Insider Buying and Selling

In other news, 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 sale, the director 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 position. Also, Director Dean Sylvan Swanberg sold 1,000,000 shares of the business’s stock in a transaction on Monday, October 27th. The shares were 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 in the company, valued at C$100,100,000. The trade was a 6.10% decrease in their position. Over the last quarter, insiders sold 4,501,800 shares of company stock valued at $28,785,530. 30.15% of the stock is currently owned by corporate insiders.

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.