Decibel Cannabis (CVE:DB) Trading Up 8.3% – Still a Buy?

Shares of Decibel Cannabis Company Inc. (CVE:DB) shot up 8.3% during mid-day trading on Wednesday . The company traded as high as C$0.07 and last traded at C$0.07. 432,445 shares changed hands during mid-day trading, an increase of 115% from the average session volume of 201,158 shares. The stock had previously closed at C$0.06.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DB. Ventum Cap Mkts raised shares of Decibel Cannabis to a “strong-buy” rating in a report on Monday, July 8th. ATB Capital cut their price objective on Decibel Cannabis from C$0.50 to C$0.40 in a research report on Thursday, August 15th. Finally, Ventum Financial decreased their target price on Decibel Cannabis from C$0.25 to C$0.20 in a research report on Thursday, August 15th.

Decibel Cannabis Stock Performance

The stock has a fifty day moving average of C$0.06 and a 200-day moving average of C$0.07. The company has a market cap of C$28.63 million, a PE ratio of -6.00 and a beta of 1.03.

About Decibel Cannabis

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.