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

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

Banxa Price Performance

The company has a current ratio of 0.81, a quick ratio of 2.36 and a debt-to-equity ratio of -209.35. The company has a 50 day simple moving average of C$1.12 and a 200 day simple moving average of C$0.77. The stock has a market cap of C$40.52 million, a P/E ratio of -18.52 and a beta of 2.75.

Insider Transactions at Banxa

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