Decibel Cannabis (CVE:DB) Stock Price Up 9.5% – Here’s What Happened

Shares of Decibel Cannabis Company Inc. (CVE:DB) shot up 9.5% during mid-day trading on Friday . The stock traded as high as C$0.12 and last traded at C$0.12. 282,337 shares traded hands during trading, a decline of 17% from the average session volume of 338,132 shares. The stock had previously closed at C$0.11.

Wall Street Analysts Forecast Growth

Separately, TD Securities set a C$0.10 price objective on shares of Decibel Cannabis and gave the stock a “hold” rating in a report on Tuesday, February 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Decibel Cannabis has an average rating of “Hold” and a consensus target price of C$0.10.

Decibel Cannabis Stock Up 9.5%

The business’s fifty day moving average is C$0.10 and its two-hundred day moving average is C$0.12. The firm has a market cap of C$66.34 million, a price-to-earnings ratio of 3.83 and a beta of 0.64.

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.