Zedcor (CVE:ZDC) Trading Down 18% – Should You Sell?

Shares of Zedcor Inc. (CVE:ZDC) were down 18% on Wednesday . The stock traded as low as C$4.39 and last traded at C$4.68. Approximately 3,893,379 shares changed hands during mid-day trading, an increase of 210% from the average daily volume of 1,254,739 shares. The stock had previously closed at C$5.71.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ZDC. Desjardins set a C$7.50 price objective on shares of Zedcor and gave the stock a “buy” rating in a report on Thursday, October 23rd. National Bankshares boosted their price target on Zedcor from C$5.50 to C$7.50 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Canaccord Genuity Group increased their price target on 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 Zedcor and gave the company a “buy” rating in a research note 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. According to MarketBeat.com, Zedcor has an average rating of “Buy” and an average price target of C$7.54.

Zedcor Stock Down 16.3%

The firm has a market capitalization of C$504.59 million, a price-to-earnings ratio of 239.00 and a beta of 1.21. The stock has a 50 day moving average of C$6.09 and a 200 day moving average of C$5.12. 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 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 transaction, the director directly owned 744,905 shares in the company, 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 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 sale, the director owned 15,400,000 shares of the company’s stock, valued at approximately C$100,100,000. The trade was a 6.10% decrease in their position. In the last quarter, insiders 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.