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

Banxa Holdings Inc. (CVE:BNXA) shares dropped 20.4% during trading on Tuesday . The stock traded as low as C$0.75 and last traded at C$0.78. Approximately 116,525 shares changed 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 Up 11.5 %

The business has a 50-day simple moving average of C$1.11 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 company has a market cap of C$35.32 million, a price-to-earnings ratio of -16.15 and a beta of 2.75.

Insider Buying and Selling

In related news, Director Antanas (Tony) Guoga purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were purchased 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 currently owned by company 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.