Banxa (CVE:BNXA) Stock Price Down 36.4% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA)’s stock price fell 36.4% during trading on Wednesday . The stock traded as low as C$0.74 and last traded at C$0.75. 170,742 shares traded hands during trading, an increase of 457% from the average session volume of 30,674 shares. The stock had previously closed at C$1.18.

Banxa Stock Performance

The stock’s 50 day moving average is C$0.74 and its two-hundred day moving average is C$0.56. The firm has a market capitalization of C$42.83 million, a P/E ratio of -4.70 and a beta of 2.75. The company has a debt-to-equity ratio of 194.64, a current ratio of 0.96 and a quick ratio of 2.36.

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.