Banxa (CVE:BNXA) Shares Up 25.3% – Time to Buy?

Banxa Holdings Inc. (CVE:BNXA) shot up 25.3% during trading on Friday . The company traded as high as C$0.95 and last traded at C$0.94. 469,852 shares were traded during trading, an increase of 1,346% from the average session volume of 32,490 shares. The stock had previously closed at C$0.75.

Banxa Price Performance

The firm has a 50 day moving average price of C$0.74 and a two-hundred day moving average price of C$0.56. The company has a market cap of C$42.83 million, a P/E ratio of -4.70 and a beta of 2.75. The company has a debt-to-equity ratio of 194.64, a quick ratio of 2.36 and a current ratio of 0.96.

Banxa Company Profile

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.