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

Shares of Banxa Holdings Inc. (CVE:BNXA) were down 20.4% on Tuesday . The company traded as low as C$0.75 and last traded at C$0.78. Approximately 116,525 shares traded 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 Trading Up 11.5 %

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 company has a market capitalization of C$35.32 million, a PE ratio of -16.15 and a beta of 2.75. The firm’s 50 day simple moving average is C$1.11 and its 200-day simple moving average is C$0.77.

Insider Buying and Selling at Banxa

In related news, Director Antanas (Tony) Guoga purchased 456,800 shares of Banxa stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average cost of C$1.49 per share, with a total value 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.