Zedcor (CVE:ZDC) Stock Price Down 18% – Here’s What Happened
by Sarita Garza · The Markets DailyZedcor Inc. (CVE:ZDC – Get Free Report)’s share price was down 18% during trading on Wednesday . The stock traded as low as C$4.39 and last traded at C$4.68. Approximately 3,893,379 shares changed hands during mid-day trading, an increase of 210% from the average daily volume of 1,254,739 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 Analyst Weigh In
ZDC has been the topic of several recent analyst reports. Canaccord Genuity Group lifted their target price on Zedcor from C$5.25 to C$7.00 in a research note on Friday, October 17th. Ventum Financial set a C$8.70 price objective on shares of Zedcor and gave the company a “buy” rating in a research report on Friday, December 12th. National Bankshares upped their target price 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. Finally, Desjardins set a C$7.50 target price on shares of Zedcor and gave the company a “buy” rating in a research note 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 stock. Based on data from MarketBeat.com, Zedcor has a consensus rating of “Buy” and a consensus price target of C$7.54.
Check Out Our Latest Stock Report on Zedcor
Zedcor Price Performance
The company has a debt-to-equity ratio of 78.93, a quick ratio of 0.87 and a current ratio of 1.14. The firm has a fifty day simple moving average of C$5.99 and a two-hundred day simple moving average of C$5.14. The firm has a market cap of C$576.37 million, a PE ratio of 273.00 and a beta of 1.21.
Insiders Place Their Bets
In related news, Director Dean Myles Shillington sold 2,000,000 shares of the firm’s stock in a transaction 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 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. Also, Director Dean Sylvan Swanberg sold 1,000,000 shares of the business’s stock in a transaction 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 completion of the sale, the director owned 15,400,000 shares in the company, valued at C$100,100,000. This represents a 6.10% decrease in their position. Over the last three months, insiders sold 4,501,800 shares of company stock valued at $28,785,530. 30.15% of the stock is currently owned by 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.