Banxa (CVE:BNXA) Shares Down 21.8% – What’s Next?

Banxa Holdings Inc. (CVE:BNXA) dropped 21.8% on Tuesday . The stock traded as low as C$0.55 and last traded at C$0.61. Approximately 356,647 shares traded hands during mid-day trading, an increase of 125% from the average daily volume of 158,265 shares. The stock had previously closed at C$0.78.

Banxa Stock Performance

The company has a market capitalization of C$31.69 million, a PE ratio of -14.49 and a beta of 2.75. The company has a quick ratio of 2.36, a current ratio of 0.81 and a debt-to-equity ratio of -209.35. The company has a 50-day moving average price of C$1.12 and a two-hundred day moving average price of C$0.77.

Insider Activity

In other Banxa news, Director Antanas (Tony) Guoga acquired 456,800 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was bought 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 company 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.