Banxa (CVE:BNXA) Stock Price Down 21.8% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA) 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 were traded 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 stock has a market capitalization of C$31.69 million, a price-to-earnings ratio of -14.49 and a beta of 2.75. 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 business has a 50-day moving average of C$1.12 and a 200-day moving average of C$0.77.

Insider Transactions at Banxa

In other news, Director Antanas (Tony) Guoga acquired 50,000 shares of Banxa stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average price of C$1.01 per share, with a total value of C$50,720.00. 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.