Banxa (CVE:BNXA) Trading Down 21.8% – Here’s What Happened

Banxa Holdings Inc. (CVE:BNXA)’s share price dropped 21.8% during mid-day trading 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 trading, an increase of 125% from the average daily volume of 158,265 shares. The stock had previously closed at C$0.78.

Banxa Stock Down 8.8 %

The firm has a market cap of C$32.21 million, a price-to-earnings ratio of -14.72 and a beta of 2.75. The company has a debt-to-equity ratio of -209.35, a quick ratio of 2.36 and a current ratio of 0.81. The business’s 50-day moving average is C$1.11 and its 200-day moving average is C$0.77.

Insider Buying and Selling

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