Banxa (CVE:BNXA) Shares Down 36.4% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA) dropped 36.4% during mid-day trading on Thursday . The stock traded as low as C$0.74 and last traded at C$0.75. Approximately 171,042 shares changed hands during mid-day trading, an increase of 458% from the average daily volume of 30,675 shares. The stock had previously closed at C$1.18.

Banxa Trading Down 36.4 %

The company has a debt-to-equity ratio of 194.64, a quick ratio of 2.36 and a current ratio of 0.96. The firm has a market capitalization of C$34.17 million, a P/E ratio of -3.75 and a beta of 2.75. The firm has a 50 day moving average price of C$0.72 and a two-hundred day moving average price of C$0.56.

About Banxa

Banxa Holdings Inc operates as a payments service provider for the cryptocurrency exchanges in Australia, North America, and Europe. It provides Web3 on-and-off ramp solutions that allows users to purchase cryptocurrency and NFT’s using fiat currency. The company’s platform also provides connections to approximately 40 blockchain ecosystems allowing businesses and projects to list new tokens on existing blockchains or explore opportunities to list on new blockchains.