Decibel Cannabis (CVE:DB) Shares Up 8.3% – What’s Next?

Decibel Cannabis Company Inc. (CVE:DB) shot up 8.3% during trading on Wednesday . The stock traded as high as C$0.07 and last traded at C$0.07. 432,445 shares changed 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 Analysts Forecast Growth

Several research firms have recently commented on DB. ATB Capital decreased their price objective on Decibel Cannabis from C$0.50 to C$0.40 in a report on Thursday, August 15th. Ventum Cap Mkts raised Decibel Cannabis to a “strong-buy” rating in a research report on Monday, July 8th. Finally, Ventum Financial cut their price objective on Decibel Cannabis from C$0.25 to C$0.20 in a research report on Thursday, August 15th.

Decibel Cannabis Trading Up 7.7 %

The company has a market cap of C$28.63 million, a PE ratio of -6.50 and a beta of 1.03. The stock has a 50 day moving average price of C$0.06 and a 200 day moving average price of C$0.07.

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.