Banxa (CVE:BNXA) Stock Price Down 20.4% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA) shares traded down 20.4% during mid-day 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 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 Up 11.5 %

The company has a market cap of C$35.32 million, a PE ratio of -16.15 and a beta of 2.75. The business’s 50 day moving average is C$1.11 and its 200-day 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.

Insider Transactions at Banxa

In related news, Director Antanas (Tony) Guoga purchased 456,800 shares of Banxa stock in a transaction that occurred on 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. Corporate 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.