Decibel Cannabis (CVE:DB) Stock Price Down 13.3%

Decibel Cannabis Company Inc. (CVE:DB)’s stock price was down 13.3% during mid-day trading on Friday . The stock traded as low as C$0.07 and last traded at C$0.07. Approximately 157,100 shares changed hands during trading, a decline of 17% from the average daily volume of 188,617 shares. The stock had previously closed at C$0.08.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DB shares. ATB Capital lowered their price target on Decibel Cannabis from C$0.50 to C$0.40 in a report on Thursday, August 15th. Echelon Wealth Partners decreased their price target on shares of Decibel Cannabis from C$0.30 to C$0.25 and set a “speculative buy” rating on the stock in a research note on Thursday, May 30th. Ventum Cap Mkts raised shares of Decibel Cannabis to a “strong-buy” rating in a report on Monday, July 8th. Finally, Ventum Financial reduced their target price on Decibel Cannabis from C$0.25 to C$0.20 in a report on Thursday, August 15th.

Decibel Cannabis Stock Down 13.3 %

The business’s fifty day moving average is C$0.06 and its two-hundred day moving average is C$0.09. The stock has a market capitalization of C$26.59 million, a PE ratio of -6.50 and a beta of 1.06.

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

Insiders Place Their Bets

In related news, Senior Officer Warren Matzelle sold 372,500 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of C$0.08, for a total transaction of C$29,800.00. 1.07% of the stock is currently owned by insiders.

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.