Banxa (CVE:BNXA) Stock Price Down 20.4% – Should You Sell?

Banxa Holdings Inc. (CVE:BNXA)’s stock price traded down 20.4% during mid-day trading on Tuesday . The stock traded as low as C$0.75 and last traded at C$0.78. 116,525 shares traded hands during trading, a decline of 24% from the average session volume of 153,542 shares. The stock had previously closed at C$0.98.

Banxa Stock Performance

The company has a debt-to-equity ratio of -209.35, a current ratio of 0.81 and a quick ratio of 2.36. The firm has a market cap of C$35.32 million, a PE ratio of -16.15 and a beta of 2.75. The business has a 50-day simple moving average of C$1.11 and a 200 day simple moving average of C$0.77.

Insiders Place Their Bets

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