Zedcor (CVE:ZDC) Stock Price Down 16.6% – What’s Next?

Zedcor Inc. (CVE:ZDC) shares traded down 16.6% on Wednesday . The company traded as low as C$4.39 and last traded at C$4.76. 3,164,198 shares traded hands during trading, an increase of 186% from the average session volume of 1,107,573 shares. The stock had previously closed at C$5.71.

Analysts Set New Price Targets

Several analysts recently commented on the company. Canaccord Genuity Group lifted their price objective on Zedcor from C$5.25 to C$7.00 in a report on Friday, October 17th. Desjardins set a C$7.50 price target on Zedcor and gave the company a “buy” rating in a research note on Thursday, October 23rd. Ventum Financial set a C$8.70 price objective on shares of Zedcor and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, National Bankshares boosted their target price on shares of 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 assigned a Buy rating to the stock. According to data from MarketBeat.com, Zedcor has a consensus rating of “Buy” and an average price target of C$7.54.

Zedcor Trading Down 18.2%

The stock has a fifty day simple moving average of C$6.09 and a 200 day simple moving average of C$5.12. The firm has a market capitalization of C$492.98 million, a P/E ratio of 233.50 and a beta of 1.21. 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 Zedcor news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 15,400,000 shares in the company, valued at C$100,100,000. This represents a 6.10% decrease in their position. Also, Director Dean Myles Shillington sold 2,000,000 shares of the 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 transaction of C$12,900,000.00. Following the sale, the director directly owned 744,905 shares of the company’s stock, valued at approximately C$4,804,637.25. This trade represents a 72.86% decrease in their ownership of the stock. Insiders have sold a total of 4,501,800 shares of company stock worth $28,785,530 in the last three months. 30.15% of the stock is owned by corporate 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.