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

Banxa Holdings Inc. (CVE:BNXA)’s share price was down 21.8% on Wednesday . The stock traded as low as C$0.55 and last traded at C$0.61. Approximately 356,647 shares were traded 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 Stock Down 8.8 %

The company has a market cap of C$32.21 million, a P/E ratio of -14.72 and a beta of 2.75. The company has a quick ratio of 2.36, a current ratio of 0.81 and a debt-to-equity ratio of -209.35. The business’s 50 day moving average is C$1.11 and its 200 day moving average is C$0.77.

Insider Buying and Selling

In other Banxa news, Director Antanas (Tony) Guoga acquired 456,800 shares of Banxa stock in a transaction that occurred on Friday, February 14th. The stock was 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 currently owned by insiders.

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.