Ventum Financial Cuts Decibel Cannabis (CVE:DB) Price Target to C$0.20

Decibel Cannabis (CVE:DB) had its price objective dropped by equities researchers at Ventum Financial from C$0.25 to C$0.20 in a report released on Thursday, BayStreet.CA reports. Ventum Financial’s target price suggests a potential upside of 300.00% from the company’s previous close.

A number of other brokerages also 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 for the company in a research note on Thursday, May 30th. Ventum Cap Mkts raised shares of Decibel Cannabis to a “strong-buy” rating in a research report on Monday, July 8th.

Decibel Cannabis Price Performance

Shares of CVE DB traded up C$0.01 during midday trading on Thursday, reaching C$0.05. 438,307 shares of the stock were exchanged, compared to its average volume of 184,669. The business has a 50-day simple moving average of C$0.06 and a two-hundred day simple moving average of C$0.10. The company has a market capitalization of C$20.45 million, a price-to-earnings ratio of -5.00 and a beta of 1.06. Decibel Cannabis has a 12 month low of C$0.04 and a 12 month high of C$0.19.

Decibel Cannabis (CVE:DB) last posted its quarterly earnings results on Wednesday, May 29th. The company reported C($0.01) earnings per share (EPS) for the quarter. Decibel Cannabis had a negative return on equity of 2.30% and a negative net margin of 4.05%. The firm had revenue of C$20.95 million for the quarter, compared to analyst estimates of C$23.60 million. Equities research analysts expect that Decibel Cannabis will post 0.0090909 earnings per share for the current fiscal year.

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.