Banxa (CVE:BNXA) Trading Down 20.4% – Here’s Why

Shares of Banxa Holdings Inc. (CVE:BNXA) 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 changed 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 50 day simple moving average of C$1.11 and a 200-day simple moving average of C$0.77. The stock has a market cap of C$35.32 million, a P/E ratio of -16.15 and a beta of 2.75. The company has a debt-to-equity ratio of -209.35, a current ratio of 0.81 and a quick ratio of 2.36.

Insider Buying and Selling

In related news, Director Antanas (Tony) Guoga acquired 456,800 shares of the stock in a transaction on Friday, February 14th. The stock was purchased at an average price of C$1.49 per share, for a total transaction of C$682,459.20. 20.90% of the stock is currently owned by corporate 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.