Banxa (CVE:BNXA) Stock Price Down 21.8% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA)’s stock price fell 21.8% during trading on Wednesday . The company traded as low as C$0.55 and last traded at C$0.61. 356,647 shares changed hands during trading, an increase of 125% from the average session volume of 158,265 shares. The stock had previously closed at C$0.78.

Banxa Stock Down 21.8 %

The business’s fifty day moving average price is C$1.12 and its 200 day moving average price is C$0.77. The company has a market capitalization of C$31.69 million, a P/E ratio of -14.49 and a beta of 2.75. The company has a current ratio of 0.81, a quick ratio of 2.36 and a debt-to-equity ratio of -209.35.

Insider Transactions at Banxa

In other Banxa news, Director Antanas (Tony) Guoga acquired 456,800 shares of Banxa stock in a transaction dated Friday, February 14th. The stock was bought at an average cost of C$1.49 per share, with a total value of C$682,459.20. 20.90% of the stock is owned by insiders.

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.