Banxa (CVE:BNXA) Shares Down 21.8% – What’s Next?

Banxa Holdings Inc. (CVE:BNXA) shares fell 21.8% during trading on Wednesday . The stock traded as low as C$0.55 and last traded at C$0.61. 356,647 shares traded 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 Stock Down 21.8 %

The firm 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. The company has a fifty day simple moving average of C$1.12 and a two-hundred day simple moving average of C$0.77.

Insider Buying and Selling at Banxa

In related news, Director Antanas (Tony) Guoga acquired 456,800 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of C$1.49 per share, with a total value of C$682,459.20. 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.