Banxa (CVE:BNXA) Shares Down 21.8% – Here’s Why

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

Banxa Stock Performance

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 firm’s fifty day moving average price is C$1.12 and its 200 day moving average price is C$0.77. The firm has a market capitalization of C$31.69 million, a PE ratio of -14.49 and a beta of 2.75.

Insider Activity

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

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.