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

Shares of Zedcor Inc. (CVE:ZDC) were down 16.3% on Wednesday . The stock traded as low as C$4.39 and last traded at C$4.78. Approximately 4,273,584 shares changed 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.

Key Zedcor News

Here are the key news stories impacting Zedcor this week:

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Analyst Upgrades and Downgrades

Several analysts recently commented on ZDC shares. Canaccord Genuity Group upped their target price 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 stock a “buy” rating in a research report on Friday, December 12th. National Bankshares upped their price objective 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. Finally, Desjardins set a C$7.50 price objective on shares of Zedcor and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat.com, Zedcor presently has a consensus rating of “Buy” and a consensus price target of C$7.54.

Zedcor Stock Up 1.9%

The firm has a market cap of C$576.37 million, a price-to-earnings ratio of 273.00 and a beta of 1.21. The firm has a 50 day moving average of C$5.99 and a 200 day moving average of C$5.14. The company has a quick ratio of 0.87, a current ratio of 1.14 and a debt-to-equity ratio of 78.93.

Insider Activity at Zedcor

In other news, Director Dean Myles Shillington sold 2,000,000 shares of Zedcor 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 position. Also, Director Dean Sylvan Swanberg sold 1,000,000 shares of the business’s stock in a transaction on 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 transaction, the director owned 15,400,000 shares in the company, valued at C$100,100,000. The trade was a 6.10% decrease in their position. In the last ninety days, insiders have sold 4,501,800 shares of company stock valued at $28,785,530. 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.