Banxa (CVE:BNXA) Trading Down 20.4% – Here’s What Happened

Banxa Holdings Inc. (CVE:BNXA)’s stock price 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 changed 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 Performance

The company’s 50-day moving average is C$1.12 and its two-hundred day moving average is C$0.77. The company has a quick ratio of 2.36, a current ratio of 0.81 and a debt-to-equity ratio of -209.35. The company has a market cap of C$40.52 million, a P/E ratio of -18.52 and a beta of 2.75.

Insider Buying and Selling at Banxa

In other news, Director Antanas (Tony) Guoga purchased 456,800 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was bought at an average price of C$1.49 per share, for a total transaction of C$682,459.20. Corporate 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.