Banxa (CVE:BNXA) Shares Down 20.4% – Here’s What Happened

Banxa Holdings Inc. (CVE:BNXA) was down 20.4% during 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 mid-day trading, a decline of 24% from the average daily volume of 153,542 shares. The stock had previously closed at C$0.98.

Banxa Trading Down 20.4 %

The stock has a market capitalization of C$40.52 million, a PE ratio of -18.52 and a beta of 2.75. The company’s 50 day moving average price is C$1.12 and its two-hundred day moving average price is C$0.77. The company has a debt-to-equity ratio of -209.35, a current ratio of 0.81 and a quick ratio of 2.36.

Insiders Place Their Bets

In related news, Director Antanas (Tony) Guoga purchased 456,800 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost 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.

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.