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

Zedcor Inc. (CVE:ZDC) shares were down 16.3% during trading on Thursday . The stock traded as low as C$4.39 and last traded at C$4.78. Approximately 4,273,584 shares traded hands 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.

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Analysts Set New Price Targets

A number of research firms have recently issued reports on ZDC. Desjardins set a C$7.50 price target on shares of Zedcor and gave the company a “buy” rating in a report on Thursday, October 23rd. Ventum Financial set a C$8.70 price objective on shares of Zedcor and gave the stock a “buy” rating in a research report on Friday, December 12th. National Bankshares increased their target price on Zedcor from C$5.50 to C$7.50 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, Canaccord Genuity Group raised their target price on Zedcor from C$5.25 to C$7.00 in a research report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$7.54.

Zedcor Stock Down 16.3%

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 firm has a market capitalization of C$504.59 million, a PE ratio of 239.00 and a beta of 1.21. The business’s 50-day moving average price is C$6.05 and its 200-day moving average price is C$5.12.

Insiders Place Their Bets

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