Decibel Cannabis (CVE:DB) Trading 10% Higher

Decibel Cannabis Company Inc. (CVE:DB)’s stock price rose 10% during mid-day trading on Friday . The company traded as high as C$0.06 and last traded at C$0.06. Approximately 286,716 shares were traded during mid-day trading, an increase of 60% from the average daily volume of 179,339 shares. The stock had previously closed at C$0.05.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DB. Echelon Wealth Partners lowered their target price on shares of 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. Ventum Cap Mkts upgraded Decibel Cannabis to a “strong-buy” rating in a research report on Monday, July 8th.

Decibel Cannabis Price Performance

The company has a market capitalization of C$22.50 million, a price-to-earnings ratio of -5.00 and a beta of 1.03. The firm’s 50-day simple moving average is C$0.06 and its two-hundred day simple moving average is C$0.10.

Decibel Cannabis (CVE:DB) last issued its quarterly earnings data on Wednesday, May 29th. The company reported C($0.01) earnings per share (EPS) for the quarter. The firm had revenue of C$20.95 million for the quarter, compared to analyst estimates of C$23.60 million. Decibel Cannabis had a negative return on equity of 3.79% and a negative net margin of 1.53%. On average, analysts expect that Decibel Cannabis Company Inc. will post 0.02 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.