Banxa (CVE:BNXA) Trading Down 20.4% – Time to Sell?

Banxa Holdings Inc. (CVE:BNXA) traded down 20.4% during trading on Monday . The company traded as low as C$0.75 and last traded at C$0.78. 116,525 shares were traded during mid-day trading, a decline of 24% from the average session volume of 153,471 shares. The stock had previously closed at C$0.98.

Banxa Stock Down 20.4 %

The firm has a market capitalization of C$40.52 million, a P/E ratio of -18.52 and a beta of 2.75. 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 company has a 50 day simple moving average of C$1.12 and a two-hundred day simple moving average of C$0.77.

Insider Buying and Selling

In other news, Director Antanas (Tony) Guoga bought 50,000 shares of Banxa stock in a transaction dated Friday, February 21st. The shares were purchased at an average cost of C$1.01 per share, with a total value of C$50,720.00. 20.90% of the stock is 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.