Banxa (CVE:BNXA) Shares Down 1.8% – Time to Sell?

Banxa Holdings Inc. (CVE:BNXA) shares fell 1.8% during mid-day trading on Wednesday . The stock traded as low as C$0.55 and last traded at C$0.55. 9,404 shares were traded during mid-day trading, a decline of 93% from the average session volume of 125,452 shares. The stock had previously closed at C$0.56.

Banxa Price Performance

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 firm has a market capitalization of C$28.57 million, a price-to-earnings ratio of -13.06 and a beta of 2.75. The company’s 50 day moving average is C$0.98 and its 200 day moving average is C$0.79.

Insider Activity

In related news, Director Antanas (Tony) Guoga acquired 50,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of C$1.01 per share, for a total transaction of C$50,720.00. 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.