Banxa (CVE:BNXA) Trading 18.7% Higher – Still a Buy?

Shares of Banxa Holdings Inc. (CVE:BNXA) were up 18.7% during trading on Friday . The company traded as high as C$0.95 and last traded at C$0.89. Approximately 131,202 shares traded hands during trading, an increase of 322% from the average daily volume of 31,091 shares. The stock had previously closed at C$0.75.

Banxa Stock Performance

The company has a fifty day moving average price of C$0.74 and a two-hundred day moving average price of C$0.56. The company has a debt-to-equity ratio of 194.64, a current ratio of 0.96 and a quick ratio of 2.36. The company has a market capitalization of C$42.83 million, a P/E ratio of -4.70 and a beta of 2.75.

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.