Banxa (CVE:BNXA) Shares Up 25.3% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA) shares traded up 25.3% during mid-day 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 Trading Up 25.3 %

The firm has a market capitalization of C$42.83 million, a price-to-earnings ratio of -4.70 and a beta of 2.75. The business’s 50-day moving average price is C$0.74 and its 200 day moving average price is C$0.56. The company has a debt-to-equity ratio of 194.64, a current ratio of 0.96 and a quick ratio of 2.36.

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.