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

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

• Neutral Sentiment: Full article text (best)
• Neutral Sentiment: Links to the news articles (I’ll summarize each)
• Neutral Sentiment: Press release or earnings release PDF
• Neutral Sentiment: Headline plus a short excerpt if you only have that

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Ventum Financial set a C$8.70 target price on Zedcor and gave the company a “buy” rating in a report on Friday, December 12th. National Bankshares boosted their price target on shares of Zedcor from C$5.50 to C$7.50 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Canaccord Genuity Group upped their price objective on shares of Zedcor from C$5.25 to C$7.00 in a research note on Friday, October 17th. 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$7.54.

Zedcor Stock Performance

The stock has a market capitalization of C$504.59 million, a price-to-earnings ratio of 239.00 and a beta of 1.21. The company has a 50 day simple moving average of C$6.05 and a 200-day simple moving average of C$5.12. 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

In other news, Director Dean Myles Shillington sold 2,000,000 shares of the 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 transaction, 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 position. 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 value of C$6,500,000.00. Following the completion of the sale, the director owned 15,400,000 shares of the company’s stock, valued at approximately C$100,100,000. This represents a 6.10% decrease in their ownership of the stock. Insiders have sold 4,501,800 shares of company stock worth $28,785,530 in the last quarter. Company 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.