Banxa (CVE:BNXA) Stock Price Down 36.4% – Here’s What Happened

Banxa Holdings Inc. (CVE:BNXA)’s share price dropped 36.4% during trading on Wednesday . The stock traded as low as C$0.74 and last traded at C$0.75. Approximately 171,042 shares traded hands during trading, an increase of 458% from the average daily volume of 30,675 shares. The stock had previously closed at C$1.18.

Banxa Stock Down 36.4 %

The company has a current ratio of 0.96, a quick ratio of 2.36 and a debt-to-equity ratio of 194.64. The stock has a market cap of C$34.17 million, a P/E ratio of -3.75 and a beta of 2.75. The stock’s 50-day moving average is C$0.72 and its 200-day moving average is C$0.56.

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.