Banxa (CVE:BNXA) Trading Down 21.8% – Should You Sell?

Shares of Banxa Holdings Inc. (CVE:BNXA) traded down 21.8% on Tuesday . The company traded as low as C$0.55 and last traded at C$0.61. 356,647 shares traded hands 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 Stock Performance

The stock has a market capitalization of C$31.69 million, a price-to-earnings ratio of -14.49 and a beta of 2.75. The company has a 50 day simple moving average of C$1.12 and a 200-day simple moving average of 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.

Insider Activity

In other news, Director Antanas (Tony) Guoga bought 456,800 shares of Banxa stock in a transaction dated Friday, February 14th. The stock was bought at an average cost of C$1.49 per share, for a total transaction of C$682,459.20. 20.90% of the stock is currently owned by company 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.