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

Zedcor Inc. (CVE:ZDC)’s share price dropped 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 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.

More Zedcor News

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Wall Street Analyst Weigh In

ZDC has been the subject of a number of research analyst reports. National Bankshares upped their price target on shares of 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 boosted their target price on Zedcor from C$5.25 to C$7.00 in a report on Friday, October 17th. Desjardins set a C$7.50 price target on Zedcor and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Ventum Financial set a C$8.70 price target on 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 given a Buy rating to the stock. According to MarketBeat.com, Zedcor currently has a consensus rating of “Buy” and an average price target of C$7.54.

Zedcor Price Performance

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 company’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 market cap of C$576.37 million, a price-to-earnings ratio of 273.00 and a beta of 1.21.

Insider Activity at Zedcor

In other Zedcor news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of C$6.50, for a total value of C$6,500,000.00. Following 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 ownership of the stock. Also, Director Dean Myles Shillington sold 2,000,000 shares of the 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 owned 744,905 shares of the company’s stock, valued at C$4,804,637.25. This trade represents a 72.86% decrease in their position. In the last 90 days, insiders sold 4,501,800 shares of company stock worth $28,785,530. 30.15% of the stock is currently owned by company insiders.

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.