Banxa (CVE:BNXA) Trading Down 21.8% – What’s Next?

Banxa Holdings Inc. (CVE:BNXA)’s share price was down 21.8% on Tuesday . The company traded as low as C$0.55 and last traded at C$0.61. Approximately 356,647 shares traded hands during mid-day trading, an increase of 127% from the average daily volume of 157,079 shares. The stock had previously closed at C$0.78.

Banxa Trading Down 21.8 %

The company’s fifty day moving average is C$1.12 and its 200-day moving average is C$0.77. The company has a current ratio of 0.81, a quick ratio of 2.36 and a debt-to-equity ratio of -209.35. The firm has a market capitalization of C$31.69 million, a P/E ratio of -14.49 and a beta of 2.75.

Insider Activity

In related news, Director Antanas (Tony) Guoga acquired 456,800 shares of the stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of C$1.49 per share, for a total transaction of C$682,459.20. 20.90% of the stock is currently owned by company insiders.

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.