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

Banxa Holdings Inc. (CVE:BNXA)’s share price fell 20.4% during mid-day trading on Monday . 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 Stock Performance

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 company has a market cap of C$40.52 million, a price-to-earnings ratio of -18.52 and a beta of 2.75. The stock has a 50-day moving average price of C$1.12 and a 200 day moving average price of C$0.77.

Insider Buying and Selling

In related news, Director Antanas (Tony) Guoga bought 456,800 shares of Banxa stock in a transaction that occurred on Friday, February 14th. The stock was purchased 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 company 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.