Banxa (CVE:BNXA) Stock Price Down 20.4% – Time to Sell?

Banxa Holdings Inc. (CVE:BNXA) shares traded down 20.4% on Tuesday . The stock 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 Trading Down 20.4 %

The firm has a market cap of C$40.52 million, a PE ratio of -18.52 and a beta of 2.75. 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 company’s 50 day moving average price is C$1.12 and its two-hundred day moving average price is C$0.77.

Insider Activity

In other Banxa news, Director Antanas (Tony) Guoga bought 50,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were bought at an average cost of C$1.01 per share, for a total transaction of C$50,720.00. Insiders own 20.90% of the company’s stock.

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.