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

Zedcor Inc. (CVE:ZDC) traded down 16.3% during 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 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.

Zedcor News Roundup

Here are the key news stories impacting Zedcor this week:

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Analysts Set New Price Targets

Several brokerages have recently commented on ZDC. National Bankshares boosted their target price on shares of Zedcor from C$5.50 to C$7.50 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Desjardins set a C$7.50 price objective on Zedcor and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Canaccord Genuity Group increased their target price 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 target price on shares of Zedcor and gave the company a “buy” rating in a research report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$7.54.

Zedcor Trading Down 16.3%

The company has a debt-to-equity ratio of 78.93, a quick ratio of 0.87 and a current ratio of 1.14. The firm’s fifty day simple moving average is C$6.05 and its 200-day simple moving average is C$5.12. The stock has a market cap of C$504.59 million, a P/E ratio of 239.00 and a beta of 1.21.

Insider Activity at Zedcor

In related news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the 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 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 firm’s stock in a transaction on Monday, October 27th. The stock was 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. The trade was a 72.86% decrease in their ownership of the stock. In the last ninety days, insiders have sold 4,501,800 shares of company stock valued at $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.