Decibel Cannabis (CVE:DB) Shares Down 8.3% – Time to Sell?

Decibel Cannabis Company Inc. (CVE:DB) traded down 8.3% during trading on Wednesday . The company traded as low as C$0.10 and last traded at C$0.11. 261,840 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 321,754 shares. The stock had previously closed at C$0.12.

Wall Street Analyst Weigh In

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

Decibel Cannabis Price Performance

The stock has a 50-day simple moving average of C$0.12 and a 200-day simple moving average of C$0.11. The stock has a market cap of C$66.34 million, a P/E ratio of -11.50 and a beta of 0.07.

Decibel Cannabis Company Profile

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.