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

Banxa Holdings Inc. (CVE:BNXA)’s stock price dropped 21.8% on Tuesday . The company 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 Trading Down 21.8 %

The firm has a market cap of C$31.69 million, a P/E ratio of -14.49 and a beta of 2.75. The company has a debt-to-equity ratio of -209.35, a quick ratio of 2.36 and a current ratio of 0.81. The firm 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 related news, Director Antanas (Tony) Guoga purchased 50,000 shares of Banxa stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of C$1.01 per share, with a total value of C$50,720.00. 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.