Decibel Cannabis (CVE:DB) Stock Price Up 15% – Still a Buy?

Decibel Cannabis Company Inc. (CVE:DB) shares rose 15% during mid-day trading on Tuesday . The stock traded as high as C$0.12 and last traded at C$0.12. Approximately 2,176,871 shares changed hands during trading, an increase of 743% from the average daily volume of 258,309 shares. The stock had previously closed at C$0.10.

Analyst Upgrades and Downgrades

Separately, TD Securities set a C$0.10 target price on shares of Decibel Cannabis and gave the company a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Decibel Cannabis presently has a consensus rating of “Hold” and an average target price of C$0.10.

Decibel Cannabis Price Performance

The firm has a market capitalization of C$57.69 million, a price-to-earnings ratio of 3.33 and a beta of 0.17. The firm’s fifty day moving average is C$0.10 and its 200 day moving average is C$0.12.

Decibel Cannabis Company Profile

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. In addition, the company engages in the cannabis retail business through operating operational retail locations in Saskatchewan, as well as an e-commerce cannabis platform throughout the Province of Saskatchewan; and operational retail locations in Alberta.