Diamond Estates Wines & Spirits (CVE:DWS) Trading Down 7.7% – Here’s What Happened

Shares of Diamond Estates Wines & Spirits Inc. (CVE:DWS) were down 7.7% on Thursday . The company traded as low as C$0.18 and last traded at C$0.18. Approximately 216,238 shares traded hands during trading, an increase of 127% from the average daily volume of 95,468 shares. The stock had previously closed at C$0.20.

Analysts Set New Price Targets

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

Diamond Estates Wines & Spirits Trading Down 7.7%

The company has a market capitalization of C$12.04 million, a PE ratio of -18.00 and a beta of 1.85. The company has a fifty day simple moving average of C$0.18 and a 200-day simple moving average of C$0.18. The company has a current ratio of 0.90, a quick ratio of 0.11 and a debt-to-equity ratio of 122.17.

Diamond Estates Wines & Spirits Company Profile

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.