Banxa (CVE:BNXA) Shares Down 21.8% – Should You Sell?

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

Banxa Trading Down 8.8 %

The company has a market cap of C$32.21 million, a price-to-earnings ratio of -14.72 and a beta of 2.75. The company has a debt-to-equity ratio of -209.35, a current ratio of 0.81 and a quick ratio of 2.36. The firm’s fifty day moving average price is C$1.11 and its 200-day moving average price is C$0.77.

Insider Activity

In other news, Director Antanas (Tony) Guoga purchased 456,800 shares of Banxa stock in a transaction dated Friday, February 14th. The stock was bought at an average price of C$1.49 per share, with a total value of C$682,459.20. Corporate insiders own 20.90% of the company’s stock.

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.