Banxa (CVE:BNXA) Trading Down 21.8% – Time to Sell?

Banxa Holdings Inc. (CVE:BNXA)’s stock price dropped 21.8% during mid-day trading on Tuesday . The stock traded as low as C$0.55 and last traded at C$0.61. Approximately 356,647 shares were traded during mid-day trading, an increase of 127% from the average daily volume of 157,079 shares. The stock had previously closed at C$0.78.

Banxa Stock Down 21.8 %

The business has a 50 day simple moving average of C$1.12 and a 200-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 firm has a market capitalization of C$31.69 million, a price-to-earnings ratio of -14.49 and a beta of 2.75.

Insiders Place Their Bets

In other Banxa news, Director Antanas (Tony) Guoga bought 50,000 shares of Banxa stock in a transaction on 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. 20.90% of the stock is owned by 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.