Banxa (CVE:BNXA) Stock Price Up 17.3% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA) was up 17.3% on Tuesday . The stock traded as high as C$1.15 and last traded at C$1.15. Approximately 88,716 shares changed hands during trading, an increase of 201% from the average daily volume of 29,518 shares. The stock had previously closed at C$0.98.

Banxa Stock Performance

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 stock has a market cap of C$53.76 million, a price-to-earnings ratio of -4.80 and a beta of 2.75. The stock has a fifty day simple moving average of C$0.69 and a two-hundred day simple moving average of C$0.55.

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.