Decibel Cannabis (CVE:DB) Stock Falls 4.8% – What’s Next?

Decibel Cannabis Company Inc. (CVE:DB) shares fell 4.8% during mid-day trading on Friday. The stock traded as low as C$1.60 and last traded at C$1.60. 82,113 shares were traded during mid-day trading, an increase of 312% from the average daily volume of 19,942 shares. The stock had previously closed at C$1.68.

Analysts Set New Price Targets

Separately, TD set a C$3.75 price target on shares of Decibel Cannabis and gave the stock a “buy” rating in a report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy” and an average target price of C$1.93.

Decibel Cannabis Trading Down 4.8%

The stock has a market capitalization of C$61.55 million, a price-to-earnings ratio of -10.67 and a beta of 0.38. The stock has a 50-day moving average price of C$1.02 and a 200 day moving average price of C$0.44.

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. 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.