Decibel Cannabis (CVE:DB) Stock Price Down 16.7%

Decibel Cannabis Company Inc. (CVE:DB) shares fell 16.7% during mid-day trading on Friday . The company traded as low as C$0.05 and last traded at C$0.05. 248,307 shares changed hands during mid-day trading, an increase of 25% from the average session volume of 198,613 shares. The stock had previously closed at C$0.06.

Wall Street Analyst Weigh In

Separately, Echelon Wealth Partners reduced their target price on Decibel Cannabis from C$0.30 to C$0.25 and set a “speculative buy” rating for the company in a report on Thursday, May 30th.

Decibel Cannabis Price Performance

The company has a market cap of C$20.45 million, a PE ratio of -5.00 and a beta of 1.03. The stock has a fifty day moving average price of C$0.09 and a 200-day moving average price of C$0.11.

Decibel Cannabis (CVE:DB) last posted its quarterly earnings results on Wednesday, May 29th. The company reported C($0.01) earnings per share for the quarter. Decibel Cannabis had a negative return on equity of 3.79% and a negative net margin of 1.53%. The company had revenue of C$20.95 million during the quarter, compared to analyst estimates of C$23.60 million. On average, equities analysts anticipate that Decibel Cannabis Company Inc. will post 0.02 earnings per share for the current year.

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.