Banxa (CVE:BNXA) Stock Price Down 20.4% – Here’s What Happened

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

Banxa Price 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 stock has a market cap of C$40.52 million, a price-to-earnings ratio of -18.52 and a beta of 2.75. The stock has a fifty day moving average of C$1.12 and a 200 day moving average of C$0.77.

Insider Buying and Selling

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