Diamond Estates Wines & Spirits (CVE:DWS) Shares Up 10.5% – Here’s Why

Diamond Estates Wines & Spirits Inc. (CVE:DWS) rose 10.5% during trading on Friday . The stock traded as high as C$0.22 and last traded at C$0.21. Approximately 533,349 shares traded hands during mid-day trading, an increase of 317% from the average daily volume of 127,810 shares. The stock had previously closed at C$0.19.

Analysts Set New Price Targets

Separately, Atrium Research raised shares of Diamond Estates Wines & Spirits to a “strong-buy” rating in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock presently has an average rating of “Strong Buy”.

Diamond Estates Wines & Spirits Stock Down 2.4%

The company has a quick ratio of 0.11, a current ratio of 0.90 and a debt-to-equity ratio of 122.17. The firm has a market capitalization of C$13.71 million, a PE ratio of -20.50 and a beta of 1.85. The business has a 50-day moving average price of C$0.17 and a 200-day moving average price of C$0.17.

About Diamond Estates Wines & Spirits

Diamond Estates Wines & Spirits Inc produces, markets, distributes, and sells wines in Canada, China, and internationally. The company operates in two segments, Manufactured Wines and Agency. It produces VQA wines under the 20 Bees, Creekside, EastDell, Lakeview Cellars, Mindful, Shiny Apple Cider, Fresh, Red Tractor, Seasons, Serenity, D’Ont Poke the Bear, and Backyard Vineyards brand names. The company also sells its products through liquor boards, licensed restaurants and bars, grocery chains, direct-to-consumer, and retail stores, as well as acts as a sales agent for beverage alcohol brands.