Decibel Cannabis (CVE:DB) Shares Up 8.3% – What’s Next?

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

Wall Street Analysts Forecast Growth

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

Decibel Cannabis Stock Performance

The stock has a fifty day moving average price of C$0.06 and a 200-day moving average price of C$0.07. The firm has a market capitalization of C$28.63 million, a PE ratio of -6.50 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.