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

Decibel Cannabis Company Inc. (CVE:DB)’s share price traded down 16.7% 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 Analysts Forecast Growth

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

Decibel Cannabis Price Performance

The firm has a 50-day simple moving average of C$0.09 and a 200 day simple moving average of C$0.11. The company has a market capitalization of C$20.45 million, a PE ratio of -5.00 and a beta of 1.03.

Decibel Cannabis (CVE:DB) last released its quarterly earnings data on Wednesday, May 29th. The company reported C($0.01) EPS for the quarter. Decibel Cannabis had a negative net margin of 1.53% and a negative return on equity of 3.79%. The company 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 0.02 EPS for the current fiscal 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.