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

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

Banxa Price Performance

The stock’s 50-day moving average price is C$1.12 and its 200 day moving average price is C$0.77. 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 price-to-earnings ratio of -14.49 and a beta of 2.75.

Insiders Place Their Bets

In related news, Director Antanas (Tony) Guoga acquired 456,800 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of C$1.49 per share, for a total transaction of C$682,459.20. Corporate insiders own 20.90% of the company’s stock.

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.