Zedcor (CVE:ZDC) Stock Price Down 16.3% – Here’s Why
by Danessa Lincoln · The Markets DailyZedcor Inc. (CVE:ZDC – Get Free Report)’s stock 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 changed 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.
Zedcor News Roundup
Here are the key news stories impacting Zedcor this week:
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Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Desjardins set a C$7.50 target price on Zedcor and gave the stock a “buy” rating in a report 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 report on Friday, December 12th. National Bankshares upped their price objective on shares of Zedcor from C$5.50 to C$7.50 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, Canaccord Genuity Group raised their target price on shares of Zedcor from C$5.25 to C$7.00 in a research note on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$7.54.
Read Our Latest Stock Report on Zedcor
Zedcor Price Performance
The company has a current ratio of 1.14, a quick ratio of 0.87 and a debt-to-equity ratio of 78.93. The company has a 50 day moving average of C$6.05 and a 200-day moving average of C$5.12. The firm has a market capitalization of C$504.59 million, a P/E ratio of 239.00 and a beta of 1.21.
Insider Activity
In other Zedcor news, 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 transaction, the director owned 744,905 shares in the company, 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 that occurred on Monday, October 27th. The stock was sold at an average price of C$6.50, for a total transaction of C$6,500,000.00. Following 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 ownership of the stock. Insiders sold 4,501,800 shares of company stock worth $28,785,530 over the last 90 days. 30.15% of the stock is currently 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.