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

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

Banxa Trading Down 21.8 %

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 firm has a market capitalization of C$31.69 million, a price-to-earnings ratio of -14.49 and a beta of 2.75. The business has a fifty day moving average price of C$1.12 and a 200 day moving average price of C$0.77.

Insider Transactions at Banxa

In related news, Director Antanas (Tony) Guoga purchased 50,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average cost 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.