Banxa (CVE:BNXA) Shares Down 21.8% – Here’s What Happened

Banxa Holdings Inc. (CVE:BNXA)’s stock price dropped 21.8% during trading on Wednesday . The stock traded as low as C$0.55 and last traded at C$0.61. Approximately 356,647 shares traded hands during mid-day trading, an increase of 125% from the average daily volume of 158,265 shares. The stock had previously closed at C$0.78.

Banxa Price Performance

The stock has a market capitalization of C$31.69 million, a PE ratio of -14.49 and a beta of 2.75. The business’s 50-day moving average price is C$1.12 and its 200 day moving average price is 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.

Insider Activity at Banxa

In related news, Director Antanas (Tony) Guoga bought 456,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of C$1.49 per share, with a total value of C$682,459.20. 20.90% of the stock is owned by corporate 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.