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

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

Banxa Stock Performance

The firm has a market capitalization of C$35.32 million, a price-to-earnings ratio of -16.15 and a beta of 2.75. 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 firm’s fifty day moving average is C$1.11 and its 200 day moving average is C$0.77.

Insider Buying and Selling

In other Banxa news, Director Antanas (Tony) Guoga purchased 456,800 shares of the company’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. 20.90% of the stock is owned by 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.