Shawn Lawrence Dym Purchases 182,000 Shares of Decibel Cannabis (CVE:DB) Stock

Decibel Cannabis Company Inc. (CVE:DB) Director Shawn Lawrence Dym purchased 182,000 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were purchased at an average price of C$0.12 per share, with a total value of C$21,840.00. Following the completion of the purchase, the director directly owned 11,605,000 shares of the company’s stock, valued at C$1,392,600. The trade was a 1.59% increase in their ownership of the stock.

Decibel Cannabis Price Performance

CVE DB opened at C$0.12 on Friday. The firm has a market capitalization of C$66.36 million, a P/E ratio of -11.50 and a beta of -0.07. Decibel Cannabis Company Inc. has a 1-year low of C$0.07 and a 1-year high of C$0.15. The business’s 50-day simple moving average is C$0.12 and its 200-day simple moving average is C$0.11.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DB shares. TD Securities upgraded shares of Decibel Cannabis from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 22nd. TD upgraded shares of Decibel Cannabis from a “hold” rating to a “buy” rating and lifted their target price for the company from C$0.15 to C$0.25 in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, Decibel Cannabis has an average rating of “Strong Buy” and an average price target of C$0.17.

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.