Decibel Cannabis (CVE:DB) Shares Up 9.5% – Time to Buy?

Decibel Cannabis Company Inc. (CVE:DB) shot up 9.5% during mid-day trading on Friday . The stock traded as high as C$0.12 and last traded at C$0.12. 282,337 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 338,132 shares. The stock had previously closed at C$0.11.

Analyst Upgrades and Downgrades

Separately, TD Securities set a C$0.10 target price on shares of Decibel Cannabis and gave the stock a “hold” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$0.10.

Decibel Cannabis Stock Up 14.3%

The stock has a market capitalization of C$69.22 million, a PE ratio of 4.00 and a beta of 0.64. The company has a 50-day moving average of C$0.10 and a 200 day moving average of C$0.12.

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. 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.