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

Zedcor Inc. (CVE:ZDC)’s share price dropped 16.3% during trading on Wednesday . The stock traded as low as C$4.39 and last traded at C$4.78. Approximately 4,273,584 shares were traded during trading, an increase of 205% from the average daily volume of 1,402,575 shares. The stock had previously closed at C$5.71.

Zedcor News Summary

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Wall Street Analyst Weigh In

ZDC has been the subject of several recent analyst reports. National Bankshares increased their price objective 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. Canaccord Genuity Group upped their target price on shares of Zedcor from C$5.25 to C$7.00 in a research note on Friday, October 17th. Ventum Financial set a C$8.70 price target on Zedcor and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, Desjardins set a C$7.50 price target on Zedcor and gave the company a “buy” rating in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$7.54.

Zedcor Trading Up 1.9%

The company has a market cap of C$576.37 million, a P/E ratio of 273.00 and a beta of 1.21. The business’s 50-day moving average price is C$5.99 and its 200 day moving average price is C$5.14. The company has a debt-to-equity ratio of 78.93, a quick ratio of 0.87 and a current ratio of 1.14.

Insider Buying and Selling

In other news, Director Dean Myles Shillington sold 2,000,000 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of C$6.45, for a total value 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 represents a 72.86% decrease in their ownership of the stock. Also, Director Dean Sylvan Swanberg sold 1,000,000 shares of the firm’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 sale, the director 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 ownership of the stock. In the last three months, insiders have sold 4,501,800 shares of company stock worth $28,785,530. Company 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.