Zedcor (CVE:ZDC) Trading Down 16.3% – Here’s Why

Zedcor Inc. (CVE:ZDC)’s stock price traded down 16.3% during trading on Thursday . The stock traded as low as C$4.39 and last traded at C$4.78. 4,273,584 shares changed hands during trading, an increase of 205% from the average session volume of 1,402,575 shares. The stock had previously closed at C$5.71.

Key Headlines Impacting Zedcor

Here are the key news stories impacting Zedcor this week:

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Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ZDC shares. National Bankshares raised their price target on shares of 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 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 target price on Zedcor and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Desjardins set a C$7.50 price target on Zedcor and gave the company a “buy” rating in a research report on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$7.54.

Zedcor Trading Down 16.3%

The firm has a market cap of C$504.59 million, a price-to-earnings ratio of 239.00 and a beta of 1.21. The company has a debt-to-equity ratio of 78.93, a current ratio of 1.14 and a quick ratio of 0.87. The firm’s fifty day moving average is C$6.05 and its 200-day moving average is C$5.12.

Insider Activity

In other Zedcor news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the business’s 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 transaction, the director directly 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 ownership of the stock. Also, Director Dean Myles Shillington sold 2,000,000 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of C$6.45, for a total value of C$12,900,000.00. Following the transaction, the director owned 744,905 shares in the company, valued at C$4,804,637.25. The trade was a 72.86% decrease in their ownership of the stock. In the last 90 days, insiders have sold 4,501,800 shares of company stock worth $28,785,530. 30.15% of the stock is owned by corporate 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.