Banxa (CVE:BNXA) Shares Down 20.4% – Time to Sell?

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

Banxa Stock Up 11.5 %

The firm has a market capitalization of C$35.32 million, a price-to-earnings ratio of -16.15 and a beta of 2.75. The stock has a fifty day moving average of C$1.11 and a two-hundred day moving average of C$0.77. The company has a debt-to-equity ratio of -209.35, a current ratio of 0.81 and a quick ratio of 2.36.

Insiders Place Their Bets

In other Banxa news, Director Antanas (Tony) Guoga purchased 456,800 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was purchased at an average cost of C$1.49 per share, for a total transaction of C$682,459.20. Company insiders own 20.90% of the company’s stock.

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.