Insider Buying: Decibel Cannabis (CVE:DB) Director Purchases 182,000 Shares of Stock

Decibel Cannabis Company Inc. (CVE:DB) Director Shawn Lawrence Dym acquired 182,000 shares of Decibel Cannabis stock in a transaction dated Thursday, July 2nd. The stock was purchased at an average price of C$0.12 per share, with a total value of C$21,840.00. Following the completion of the purchase, the director owned 11,605,000 shares of the company’s stock, valued at approximately C$1,392,600. The trade was a 1.59% increase in their ownership of the stock.

Decibel Cannabis Stock Down 4.2%

Shares of Decibel Cannabis stock traded down C$0.01 on Friday, reaching C$0.12. 6,224 shares of the stock were exchanged, compared to its average volume of 293,239. The business has a 50 day moving average price of C$0.12 and a two-hundred day moving average price of C$0.11. The firm has a market capitalization of C$66.36 million, a price-to-earnings ratio of -11.50 and a beta of -0.07. Decibel Cannabis Company Inc. has a twelve month low of C$0.07 and a twelve month high of C$0.15.

Analysts Set New Price Targets

DB has been the subject of several research reports. TD Securities upgraded shares of Decibel Cannabis from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. TD raised shares of Decibel Cannabis from a “hold” rating to a “buy” rating and raised their target price for the stock from C$0.15 to C$0.25 in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Strong Buy” and an average target price of C$0.17.

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. 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.