Banxa (CVE:BNXA) Stock Price Down 20.4% – What’s Next?

Banxa Holdings Inc. (CVE:BNXA) was down 20.4% during mid-day trading on Tuesday . The company traded as low as C$0.75 and last traded at C$0.78. Approximately 116,525 shares traded hands during trading, a decline of 24% from the average daily volume of 153,542 shares. The stock had previously closed at C$0.98.

Banxa Price Performance

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 company has a debt-to-equity ratio of -209.35, a quick ratio of 2.36 and a current ratio of 0.81. The company’s 50 day moving average price is C$1.12 and its 200 day moving average price is C$0.77.

Insider Buying and Selling at Banxa

In other Banxa news, Director Antanas (Tony) Guoga bought 50,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were bought at an average price of C$1.01 per share, for a total transaction of C$50,720.00. Company 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.