Diamond Estates Wines & Spirits (CVE:DWS) Trading 10.5% Higher – Here’s Why

Diamond Estates Wines & Spirits Inc. (CVE:DWS) shot up 10.5% during mid-day trading on Thursday . The stock traded as high as C$0.22 and last traded at C$0.21. 533,349 shares changed hands during trading, an increase of 317% from the average session volume of 127,810 shares. The stock had previously closed at C$0.19.

Analyst Upgrades and Downgrades

Separately, Atrium Research upgraded Diamond Estates Wines & Spirits to a “strong-buy” rating in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Diamond Estates Wines & Spirits has a consensus rating of “Strong Buy”.

Diamond Estates Wines & Spirits Price Performance

The company has a market cap of C$14.05 million, a PE ratio of -21.00 and a beta of 1.85. The business has a 50 day moving average of C$0.17 and a 200 day moving average of C$0.17. The company has a debt-to-equity ratio of 122.17, a current ratio of 0.90 and a quick ratio of 0.11.

About Diamond Estates Wines & Spirits

Diamond Estates Wines & Spirits Inc produces, markets, distributes, and sells wines in Canada, China, and internationally. The company operates in two segments, Manufactured Wines and Agency. It produces VQA wines under the 20 Bees, Creekside, EastDell, Lakeview Cellars, Mindful, Shiny Apple Cider, Fresh, Red Tractor, Seasons, Serenity, D’Ont Poke the Bear, and Backyard Vineyards brand names. The company also sells its products through liquor boards, licensed restaurants and bars, grocery chains, direct-to-consumer, and retail stores, as well as acts as a sales agent for beverage alcohol brands.