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

Banxa Holdings Inc. (CVE:BNXA) shares dropped 20.4% during trading on Monday . The company traded as low as C$0.75 and last traded at C$0.78. Approximately 116,525 shares traded hands during trading, a decline of 24% from the average daily volume of 153,542 shares. The stock had previously closed at C$0.98.

Banxa Stock Performance

The stock has a fifty day simple moving average of C$1.12 and a two-hundred day simple moving average of C$0.77. 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 stock has a market capitalization of C$40.52 million, a price-to-earnings ratio of -18.52 and a beta of 2.75.

Insider Activity at Banxa

In related news, Director Antanas (Tony) Guoga bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average cost of C$1.01 per share, with a total value of C$50,720.00. 20.90% of the stock is owned by corporate insiders.

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.