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

Banxa Holdings Inc. (CVE:BNXA)’s share price was down 21.8% during mid-day 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 Stock Down 21.8 %

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

Insider Buying and Selling at Banxa

In other Banxa news, Director Antanas (Tony) Guoga acquired 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, for a total transaction of C$682,459.20. 20.90% of the stock is currently owned by corporate 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.