Zedcor (CVE:ZDC) Shares Down 18.7% – What’s Next?

Zedcor Inc. (CVE:ZDC) shares traded down 18.7% during mid-day trading on Wednesday . The company traded as low as C$4.39 and last traded at C$4.64. 2,937,305 shares changed hands during mid-day trading, an increase of 182% from the average session volume of 1,042,129 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

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

Zedcor Stock Up 1.9%

The firm has a market cap of C$576.37 million, a P/E ratio of 273.00 and a beta of 1.21. The firm has a fifty day moving average of C$6.02 and a 200-day 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.

Insiders Place Their Bets

In other Zedcor news, Director Dean Sylvan Swanberg sold 1,000,000 shares of the business’s 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 transaction of C$6,500,000.00. Following the sale, the director directly owned 15,400,000 shares of the company’s stock, valued at 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 Zedcor stock in a transaction that occurred on Monday, October 27th. The stock was 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 directly owned 744,905 shares in the company, valued at approximately C$4,804,637.25. This represents a 72.86% decrease in their ownership of the stock. In the last 90 days, insiders have sold 4,501,800 shares of company stock worth $28,785,530. Corporate 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.