Banxa (CVE:BNXA) Shares Down 20.4% – Should You Sell?

Shares of Banxa Holdings Inc. (CVE:BNXA) were down 20.4% during trading on Tuesday . The stock traded as low as C$0.75 and last traded at C$0.78. Approximately 116,525 shares traded 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 quick ratio of 2.36, a current ratio of 0.81 and a debt-to-equity ratio of -209.35. The stock’s 50 day moving average price is C$1.12 and its two-hundred day moving average price is C$0.77. 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.

Insider Buying and Selling at Banxa

In other news, Director Antanas (Tony) Guoga purchased 456,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average cost of C$1.49 per share, with a total value of C$682,459.20. 20.90% of the stock is owned by corporate 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.