Banxa (CVE:BNXA) Stock Price Down 20.4% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA) shares traded down 20.4% during mid-day trading on Tuesday . The stock traded as low as C$0.75 and last traded at C$0.78. 116,525 shares were traded 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 Price Performance

The stock has a market capitalization of C$35.32 million, a PE ratio of -16.15 and a beta of 2.75. The company has a debt-to-equity ratio of -209.35, a current ratio of 0.81 and a quick ratio of 2.36. The stock’s fifty day moving average is C$1.11 and its 200-day moving average is C$0.77.

Insider Activity

In other news, Director Antanas (Tony) Guoga acquired 50,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was bought at an average cost of C$1.01 per share, for a total transaction of C$50,720.00. Insiders own 20.90% of the company’s stock.

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.