Banxa (CVE:BNXA) Shares Down 20.4% – Should You Sell?

Banxa Holdings Inc. (CVE:BNXA) was down 20.4% during mid-day trading on Tuesday . The stock traded as low as C$0.75 and last traded at C$0.78. Approximately 116,525 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 153,542 shares. The stock had previously closed at C$0.98.

Banxa Trading Down 20.4 %

The firm has a market cap of C$40.52 million, a PE ratio of -18.52 and a beta of 2.75. The firm has a fifty day simple moving average of C$1.12 and a two-hundred day simple moving average of C$0.77. The company has a current ratio of 0.81, a quick ratio of 2.36 and a debt-to-equity ratio of -209.35.

Insider Activity at Banxa

In other news, Director Antanas (Tony) Guoga acquired 456,800 shares of the stock in a transaction on Friday, February 14th. The stock was acquired at an average price of C$1.49 per share, with a total value of C$682,459.20. 20.90% of the stock is owned by corporate insiders.

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.