Decibel Cannabis (CVE:DB) Trading Down 18.2%

Decibel Cannabis Company Inc. (CVE:DB)’s share price was down 18.2% during mid-day trading on Monday . The stock traded as low as C$0.05 and last traded at C$0.05. Approximately 237,654 shares changed hands during trading, an increase of 32% from the average daily volume of 179,717 shares. The stock had previously closed at C$0.06.

Analyst Upgrades and Downgrades

DB has been the subject of a number of recent analyst reports. Echelon Wealth Partners lowered their price objective on Decibel Cannabis from C$0.30 to C$0.25 and set a “speculative buy” rating for the company in a research report on Thursday, May 30th. Ventum Cap Mkts raised shares of Decibel Cannabis to a “strong-buy” rating in a research note on Monday, July 8th.

Decibel Cannabis Price Performance

The firm has a 50-day simple moving average of C$0.06 and a 200 day simple moving average of C$0.10. The company has a market capitalization of C$16.36 million, a PE ratio of -4.00 and a beta of 1.06.

Decibel Cannabis (CVE:DB) last posted its quarterly earnings data on Wednesday, May 29th. The company reported C($0.01) earnings per share for the quarter. Decibel Cannabis had a negative net margin of 4.05% and a negative return on equity of 2.30%. The firm had revenue of C$20.95 million during the quarter, compared to analysts’ expectations of C$23.60 million. Equities research analysts expect that Decibel Cannabis Company Inc. will post 0.0090909 EPS for the current fiscal 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.