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

Shares of Banxa Holdings Inc. (CVE:BNXA) dropped 21.8% during mid-day trading on Tuesday . 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 Price Performance

The firm has a fifty day simple moving average of C$1.12 and a 200 day simple moving average of C$0.77. The company has a market capitalization of C$31.69 million, a PE ratio of -14.49 and a beta of 2.75. The company has a debt-to-equity ratio of -209.35, a quick ratio of 2.36 and a current ratio of 0.81.

Insiders Place Their Bets

In related news, Director Antanas (Tony) Guoga acquired 456,800 shares of the 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.

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.