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

Zedcor Inc. (CVE:ZDC)’s stock price fell 16.3% during mid-day trading on Wednesday . The company traded as low as C$4.39 and last traded at C$4.78. 4,273,584 shares traded 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.

Zedcor News Roundup

Here are the key news stories impacting Zedcor this week:

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ZDC shares. Canaccord Genuity Group increased their target price on Zedcor from C$5.25 to C$7.00 in a research note on Friday, October 17th. 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. Desjardins set a C$7.50 price objective on Zedcor and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, National Bankshares lifted their target price on Zedcor from C$5.50 to C$7.50 and gave the stock an “outperform” rating in a report on Thursday, October 9th. 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, the stock presently has a consensus rating of “Buy” and an average price target of C$7.54.

Zedcor Trading Down 16.3%

The company has a quick ratio of 0.87, a current ratio of 1.14 and a debt-to-equity ratio of 78.93. The firm has a market capitalization of C$504.59 million, a P/E ratio of 239.00 and a beta of 1.21. The firm has a 50 day moving average of C$6.05 and a 200-day moving average of C$5.12.

Insider Buying and Selling at Zedcor

In related news, Director Dean Myles Shillington sold 2,000,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were 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 owned 744,905 shares of the company’s stock, valued at C$4,804,637.25. This represents a 72.86% decrease in their ownership of the stock. Also, 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 transaction, the director directly owned 15,400,000 shares in the company, valued at approximately C$100,100,000. This represents a 6.10% decrease in their ownership of the stock. Insiders sold a total of 4,501,800 shares of company stock valued at $28,785,530 over the last ninety days. Insiders own 30.15% of the company’s stock.

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.