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

Zedcor Inc. (CVE:ZDC)’s share price dropped 16.3% on Wednesday . The company 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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Wall Street Analysts Forecast Growth

ZDC has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their price objective on Zedcor from C$5.25 to C$7.00 in a report on Friday, October 17th. Ventum Financial set a C$8.70 price target on shares of Zedcor and gave the company a “buy” rating in a research note on Friday, December 12th. 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. Finally, National Bankshares boosted 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. Two analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$7.54.

Zedcor Price Performance

The firm has a market capitalization of C$504.59 million, a PE ratio of 239.00 and a beta of 1.21. The company has a current ratio of 1.14, a quick ratio of 0.87 and a debt-to-equity ratio of 78.93. The company has a fifty day moving average price of C$6.05 and a two-hundred day moving average price of C$5.12.

Insider Buying and Selling

In other news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the 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 value of C$6,500,000.00. Following the completion of the sale, the director directly 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 firm’s stock in a transaction that occurred 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 owned 744,905 shares in the company, valued at approximately C$4,804,637.25. This trade represents a 72.86% decrease in their ownership of the stock. In the last quarter, insiders sold 4,501,800 shares of company stock valued at $28,785,530. 30.15% of the stock is 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.