Banxa (CVE:BNXA) Trading Down 20.4% – Here’s What Happened

Banxa Holdings Inc. (CVE:BNXA)’s share price dropped 20.4% during 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 mid-day trading, a decline of 24% from the average daily volume of 153,542 shares. The stock had previously closed at C$0.98.

Banxa Stock Performance

The firm has a market cap of C$40.52 million, a price-to-earnings ratio of -18.52 and a beta of 2.75. The company has a debt-to-equity ratio of -209.35, a current ratio of 0.81 and a quick ratio of 2.36. The firm has a fifty day simple moving average of C$1.12 and a two-hundred day simple moving average of C$0.77.

Insider Activity at Banxa

In other news, Director Antanas (Tony) Guoga acquired 456,800 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were acquired 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 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.