Decibel Cannabis (CVE:DB) Stock Price Up 20%

Decibel Cannabis Company Inc. (CVE:DB) shares rose 20% on Tuesday . The company traded as high as C$0.06 and last traded at C$0.06. Approximately 270,129 shares were traded during trading, an increase of 36% from the average daily volume of 199,176 shares. The stock had previously closed at C$0.05.

Wall Street Analysts Forecast Growth

Separately, Echelon Wealth Partners dropped their price objective on shares of Decibel Cannabis from C$0.30 to C$0.25 and set a “speculative buy” rating on the stock in a research note on Thursday, May 30th.

Decibel Cannabis Stock Up 9.1 %

The firm has a market capitalization of C$24.54 million, a PE ratio of -5.50 and a beta of 1.03. The stock’s fifty day simple moving average is C$0.09 and its 200 day simple moving average is C$0.11.

Decibel Cannabis (CVE:DB) last posted its quarterly earnings results on Wednesday, May 29th. The company reported C($0.01) EPS for the quarter. The company had revenue of C$20.95 million during the quarter, compared to analysts’ expectations of C$23.60 million. Decibel Cannabis had a negative return on equity of 3.79% and a negative net margin of 1.53%. On average, analysts predict that Decibel Cannabis Company Inc. will post 0.02 EPS for the current year.

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.