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

Zedcor Inc. (CVE:ZDC)’s share price dropped 16.3% during mid-day trading on Thursday . The stock traded as low as C$4.39 and last traded at C$4.78. Approximately 4,273,584 shares were traded during 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 Headlines Impacting Zedcor

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Analyst Ratings Changes

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

Zedcor Price Performance

The firm has a market cap of C$504.59 million, a PE 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 business’s fifty day moving average is C$6.05 and its 200-day moving average is C$5.12.

Insider Activity at Zedcor

In related news, Director Dean Sylvan Swanberg sold 1,000,000 shares of Zedcor stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of C$6.50, for a total value of C$6,500,000.00. Following the sale, the director 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 position. Also, Director Dean Myles Shillington sold 2,000,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 744,905 shares in the company, valued at approximately C$4,804,637.25. The trade was a 72.86% decrease in their position. In 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 currently 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.