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

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

Analyst Ratings Changes

A number of research analysts have weighed in on ZDC shares. Desjardins set a C$7.50 price objective on shares of Zedcor and gave the company a “buy” rating in a research note on Thursday, October 23rd. Canaccord Genuity Group upped their target price on shares of Zedcor from C$5.25 to C$7.00 in a report on Friday, October 17th. National Bankshares lifted their price target 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. Finally, Ventum Financial set a C$8.70 price objective on Zedcor and gave the stock a “buy” rating in a report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$7.54.

Zedcor Stock Down 16.3%

The stock has a fifty day moving average of C$6.09 and a 200 day moving average of C$5.12. 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 has a market capitalization of C$504.59 million, a P/E ratio of 239.00 and a beta of 1.21.

Insiders Place Their Bets

In related news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were 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 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 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 completion of the sale, the director directly owned 744,905 shares in the company, valued at approximately C$4,804,637.25. This represents a 72.86% decrease in their position. Insiders have sold a total of 4,501,800 shares of company stock worth $28,785,530 over the last quarter. 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.