Banxa (CVE:BNXA) Shares Down 21.8% – Time to Sell?

Shares of Banxa Holdings Inc. (CVE:BNXA) fell 21.8% during mid-day trading on Wednesday . The stock traded as low as C$0.55 and last traded at C$0.61. 356,647 shares traded hands during trading, an increase of 125% from the average session volume of 158,265 shares. The stock had previously closed at C$0.78.

Banxa Trading Down 21.8 %

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 current ratio of 0.81, a quick ratio of 2.36 and a debt-to-equity ratio of -209.35. The company has a market cap of C$31.69 million, a P/E ratio of -14.49 and a beta of 2.75.

Insiders Place Their Bets

In other Banxa news, Director Antanas (Tony) Guoga purchased 50,000 shares of Banxa stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of C$1.01 per share, for a total transaction of C$50,720.00. Insiders own 20.90% of the company’s stock.

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.