Banxa (CVE:BNXA) Shares Down 20.4% – Here’s Why

Shares of Banxa Holdings Inc. (CVE:BNXA) were down 20.4% during mid-day trading on Monday . The company traded as low as C$0.75 and last traded at C$0.78. Approximately 116,525 shares were traded 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 Down 20.4 %

The stock has a market cap of C$40.52 million, a PE ratio of -18.52 and a beta of 2.75. 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 50-day simple moving average of C$1.12 and a 200-day simple moving average of C$0.77.

Insider Buying and Selling

In other news, Director Antanas (Tony) Guoga bought 50,000 shares of the stock in a transaction on Friday, February 21st. The shares were acquired at an average cost of C$1.01 per share, for a total transaction of C$50,720.00. 20.90% of the stock is currently owned by 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.