Decibel Cannabis (CVE:DB) Stock Price Up 8.3% – Here’s Why

Decibel Cannabis Company Inc. (CVE:DB) shot up 8.3% during trading on Wednesday . The company traded as high as C$0.07 and last traded at C$0.07. 432,445 shares traded hands during trading, an increase of 115% from the average session volume of 201,158 shares. The stock had previously closed at C$0.06.

Wall Street Analyst Weigh In

DB has been the subject of several recent research reports. Ventum Financial cut their target price on shares of Decibel Cannabis from C$0.25 to C$0.20 in a report on Thursday, August 15th. Ventum Cap Mkts raised shares of Decibel Cannabis to a “strong-buy” rating in a research note on Monday, July 8th. Finally, ATB Capital lowered their price target on Decibel Cannabis from C$0.50 to C$0.40 in a research report on Thursday, August 15th.

Decibel Cannabis Stock Performance

The stock’s 50 day moving average is C$0.06 and its two-hundred day moving average is C$0.07. The stock has a market capitalization of C$28.63 million, a PE ratio of -6.00 and a beta of 1.03.

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.