Banxa (CVE:BNXA) Shares Down 26.9% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA)’s share price traded down 26.9% during trading on Tuesday . The company traded as low as C$0.55 and last traded at C$0.57. 258,547 shares traded hands during mid-day trading, an increase of 70% from the average session volume of 152,321 shares. The stock had previously closed at C$0.78.

Banxa Trading Down 21.8 %

The stock has a market cap of C$31.69 million, a price-to-earnings ratio of -14.49 and a beta of 2.75. The business’s fifty day simple moving average is C$1.12 and its 200 day simple moving average is C$0.77. The company has a debt-to-equity ratio of -209.35, a current ratio of 0.81 and a quick ratio of 2.36.

Insiders Place Their Bets

In related news, Director Antanas (Tony) Guoga bought 456,800 shares of the business’s stock in a transaction on Friday, February 14th. The shares were bought at an average cost of C$1.49 per share, for a total transaction of C$682,459.20. 20.90% of the stock is currently owned by corporate 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.