Banxa (CVE:BNXA) Trading Down 23.1% – Here’s What Happened

Shares of Banxa Holdings Inc. (CVE:BNXA) traded down 23.1% on Tuesday . The stock traded as low as C$0.58 and last traded at C$0.60. 146,547 shares were traded during mid-day trading, a decline of 3% from the average session volume of 150,795 shares. The stock had previously closed at C$0.78.

Banxa Stock Performance

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 firm has a market cap of C$31.69 million, a P/E ratio of -14.49 and a beta of 2.75. The business has a fifty day simple moving average of C$1.12 and a 200-day simple moving average of C$0.77.

Insider Transactions at Banxa

In related news, Director Antanas (Tony) Guoga acquired 456,800 shares of Banxa stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average price of C$1.49 per share, with a total value of C$682,459.20. 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.