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

Zedcor Inc. (CVE:ZDC)’s share price fell 16.3% during mid-day trading on Thursday . The company 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.

Key Headlines Impacting Zedcor

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Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ZDC. Ventum Financial set a C$8.70 price objective on Zedcor and gave the company a “buy” rating in a report on Friday, December 12th. Canaccord Genuity Group lifted their target price on Zedcor from C$5.25 to C$7.00 in a research report on Friday, October 17th. Desjardins set a C$7.50 price target on Zedcor and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, National Bankshares upped their price target on Zedcor from C$5.50 to C$7.50 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average 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 current ratio of 1.14 and a quick ratio of 0.87. The company has a fifty day moving average price of C$6.05 and a 200 day moving average price of C$5.12. The company 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 other Zedcor news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the 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 sale, the director directly owned 15,400,000 shares of the company’s stock, valued at 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 the firm’s 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 completion of the sale, 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. Over the last 90 days, insiders have sold 4,501,800 shares of company stock valued at $28,785,530. 30.15% of the stock is owned by company insiders.

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.