Banxa (CVE:BNXA) Trading Down 21.8% – Should You Sell?

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

Banxa Stock Down 8.8 %

The company has a market capitalization of C$32.21 million, a P/E ratio of -14.72 and a beta of 2.75. The stock has a 50 day moving average price of C$1.11 and a 200 day moving average price 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 related news, Director Antanas (Tony) Guoga acquired 456,800 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average cost of C$1.49 per share, for a total transaction of C$682,459.20. 20.90% of the stock is currently owned by company insiders.

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.