Decibel Cannabis (CVE:DB) Stock Price Up 12.5%

Decibel Cannabis Company Inc. (CVE:DB) shares rose 12.5% during mid-day trading on Thursday . The company traded as high as C$0.05 and last traded at C$0.05. Approximately 33,507 shares traded hands during trading, a decline of 82% from the average daily volume of 182,091 shares. The stock had previously closed at C$0.04.

Wall Street Analyst Weigh In

Several research firms have weighed in on DB. Ventum Financial lowered their price target on Decibel Cannabis from C$0.25 to C$0.20 in a report on Thursday. ATB Capital lowered their price target on Decibel Cannabis from C$0.50 to C$0.40 in a report on Thursday. Ventum Cap Mkts raised Decibel Cannabis to a “strong-buy” rating in a report on Monday, July 8th. Finally, Echelon Wealth Partners lowered their price target on Decibel Cannabis from C$0.30 to C$0.25 and set a “speculative buy” rating on the stock in a report on Thursday, May 30th.

Decibel Cannabis Price Performance

The stock has a 50 day simple moving average of C$0.06 and a 200-day simple moving average of C$0.10. The firm has a market cap of C$22.50 million, a PE ratio of -5.00 and a beta of 1.06.

Decibel Cannabis (CVE:DB) last posted its quarterly earnings results on Wednesday, May 29th. The company reported C($0.01) earnings per share for the quarter. Decibel Cannabis had a negative return on equity of 2.30% and a negative net margin of 4.05%. The business had revenue of C$20.95 million during the quarter, compared to analysts’ expectations of C$23.60 million. As a group, equities analysts predict that Decibel Cannabis Company Inc. will post 0.0090909 EPS for the current fiscal year.

Decibel Cannabis Company Profile

Decibel Cannabis Company Inc, an integrated cannabis company, engages in the cannabis cultivation, processing, and sale of cannabis flower products in Canada. It is also involved in the extraction, processing, and manufacturing vape cartridges, cannabis infused products, cannabis extracts, and glass tube packaging for pre-rolls.