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

Zedcor Inc. (CVE:ZDC)’s stock price was down 16.3% on Thursday . 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.

Zedcor News Summary

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Analysts Set New Price Targets

ZDC has been the subject of a number of research reports. 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. National Bankshares lifted their price objective on Zedcor from C$5.50 to C$7.50 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Canaccord Genuity Group upped their target price on Zedcor from C$5.25 to C$7.00 in a research note on Friday, October 17th. Finally, Desjardins set a C$7.50 target price on Zedcor and gave the stock a “buy” rating in a report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat, Zedcor presently has a consensus rating of “Buy” and a consensus price target of C$7.54.

Zedcor Trading Up 1.9%

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 company’s 50-day moving average is C$5.99 and its 200 day moving average is C$5.14. The company has a market cap of C$576.37 million, a price-to-earnings ratio of 273.00 and a beta of 1.21.

Insider Transactions at Zedcor

In other news, Director Dean Myles Shillington sold 2,000,000 shares of the firm’s stock in a transaction dated 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 sale, 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 position. Also, Director Dean Sylvan Swanberg sold 1,000,000 shares of Zedcor stock in a transaction dated Monday, October 27th. The shares were sold at an average price of C$6.50, for a total value of C$6,500,000.00. Following the completion of the transaction, the director owned 15,400,000 shares of the company’s stock, valued at approximately C$100,100,000. This represents a 6.10% decrease in their position. Insiders have sold a total of 4,501,800 shares of company stock worth $28,785,530 over the last 90 days. 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.