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

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

Banxa Price Performance

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 stock has a fifty day moving average of C$1.12 and a two-hundred day moving average of C$0.77. The stock has a market cap of C$31.69 million, a price-to-earnings ratio of -14.49 and a beta of 2.75.

Insider Activity

In related news, Director Antanas (Tony) Guoga bought 456,800 shares of the stock in a transaction on Friday, February 14th. The shares were bought at an average cost of C$1.49 per share, for a total transaction of C$682,459.20. 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.