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

Banxa Holdings Inc. (CVE:BNXA) fell 20.4% during trading on Tuesday . The stock traded as low as C$0.75 and last traded at C$0.78. 116,525 shares were traded during 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$40.52 million, a price-to-earnings ratio of -18.52 and a beta of 2.75. 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 company has a current ratio of 0.81, a quick ratio of 2.36 and a debt-to-equity ratio of -209.35.

Insider Activity

In other news, Director Antanas (Tony) Guoga bought 456,800 shares of the business’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. Insiders own 20.90% of the company’s stock.

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.