Diamond Estates Wines & Spirits (CVE:DWS) Stock Price Up 10.5% – Here’s Why

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

Wall Street Analysts Forecast Growth

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

Diamond Estates Wines & Spirits Price Performance

The firm has a 50-day simple moving average of C$0.17 and a 200-day simple moving average of C$0.17. The firm has a market cap of C$13.38 million, a P/E ratio of -20.00 and a beta of 1.85. The company has a current ratio of 0.90, a quick ratio of 0.11 and a debt-to-equity ratio of 122.17.

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.