Banxa (CVE:BNXA) Shares Down 21.8% – What’s Next?

Banxa Holdings Inc. (CVE:BNXA) shares were down 21.8% during mid-day trading on Tuesday . The stock traded as low as C$0.55 and last traded at C$0.61. Approximately 356,647 shares changed hands during trading, an increase of 127% from the average daily volume of 157,079 shares. The stock had previously closed at C$0.78.

Banxa Stock Performance

The firm has a fifty day simple moving average of C$1.12 and a 200 day simple moving average of C$0.77. The company has a current ratio of 0.81, a quick ratio of 2.36 and a debt-to-equity ratio of -209.35. The stock has a market cap of C$31.69 million, a price-to-earnings ratio of -14.49 and a beta of 2.75.

Insider Activity at Banxa

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