Banxa (CVE:BNXA) Trading Down 21.8% – What’s Next?

Banxa Holdings Inc. (CVE:BNXA)’s stock price dropped 21.8% during mid-day trading on Tuesday . The company 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 Stock Down 21.8 %

The firm has a fifty day moving average of C$1.12 and a 200-day moving average of C$0.77. The company has a quick ratio of 2.36, a current ratio of 0.81 and a debt-to-equity ratio of -209.35. The firm has a market cap of C$31.69 million, a P/E ratio of -14.49 and a beta of 2.75.

Insider Transactions at Banxa

In other news, Director Antanas (Tony) Guoga acquired 50,000 shares of the stock in a transaction dated Friday, February 21st. The shares were bought at an average cost of C$1.01 per share, for a total transaction of C$50,720.00. Company 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.