Banxa (CVE:BNXA) Trading Down 20.4% – What’s Next?

Banxa Holdings Inc. (CVE:BNXA) shares traded down 20.4% on Tuesday . The stock traded as low as C$0.75 and last traded at C$0.78. 116,525 shares changed hands during 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 has a market capitalization of C$40.52 million, a price-to-earnings ratio of -18.52 and a beta of 2.75. 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 stock has a 50 day simple moving average of C$1.12 and a 200 day simple moving average of C$0.77.

Insiders Place Their Bets

In other news, Director Antanas (Tony) Guoga bought 50,000 shares of Banxa stock in a transaction on Friday, February 21st. The stock was purchased at an average cost of C$1.01 per share, with a total value of C$50,720.00. 20.90% of the stock is owned by corporate insiders.

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.