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

Banxa Holdings Inc. (CVE:BNXA)’s stock price traded down 20.4% on Tuesday . The company traded as low as C$0.75 and last traded at C$0.78. 116,525 shares traded 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 company has a debt-to-equity ratio of -209.35, a quick ratio of 2.36 and a current ratio of 0.81. The company has a market capitalization of C$40.52 million, a P/E ratio of -18.52 and a beta of 2.75. The company’s fifty day simple moving average is C$1.12 and its 200-day simple moving average is C$0.77.

Insider Activity

In related news, Director Antanas (Tony) Guoga purchased 456,800 shares of Banxa stock in a transaction dated Friday, February 14th. The stock was purchased at an average cost of C$1.49 per share, with a total value of C$682,459.20. 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.