Banxa (CVE:BNXA) Trading Down 16.3% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA)’s share price dropped 16.3% during trading on Monday . The stock traded as low as C$0.75 and last traded at C$0.82. Approximately 113,525 shares changed hands during trading, a decline of 26% from the average daily volume of 153,471 shares. The stock had previously closed at C$0.98.

Banxa Price Performance

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 stock’s 50 day moving average price is C$1.12 and its two-hundred day moving average price is C$0.77. 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.

Insider Buying and Selling at Banxa

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