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

Decibel Cannabis Company Inc. (CVE:DB)’s share price fell 16.7% during trading on Friday . The stock traded as low as C$0.05 and last traded at C$0.05. 248,307 shares traded 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 dropped their target price on Decibel Cannabis from C$0.30 to C$0.25 and set a “speculative buy” rating on the stock in a report on Thursday, May 30th.

Decibel Cannabis Stock Performance

The company’s 50 day moving average price is C$0.09 and its 200-day moving average price is C$0.12. The stock has a market cap of C$20.45 million, a P/E ratio of -6.00 and a beta of 1.03.

Decibel Cannabis (CVE:DB) last issued its quarterly earnings data on Wednesday, May 29th. The company reported C($0.01) earnings per share (EPS) for the quarter. Decibel Cannabis had a negative return on equity of 3.79% and a negative net margin of 1.53%. The firm had revenue of C$20.95 million during the quarter, compared to the consensus estimate of C$23.60 million. On average, analysts forecast that Decibel Cannabis Company Inc. will post 0.02 earnings per share 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.