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

Banxa Holdings Inc. (CVE:BNXA)’s stock price traded down 20.4% during mid-day trading on Tuesday . The stock traded as low as C$0.75 and last traded at C$0.78. 116,525 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 153,542 shares. The stock had previously closed at C$0.98.

Banxa Stock 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 business has a fifty day simple moving average of C$1.11 and a 200-day simple moving average of C$0.77. The firm has a market cap of C$35.32 million, a P/E ratio of -16.15 and a beta of 2.75.

Insider Activity

In related news, Director Antanas (Tony) Guoga bought 456,800 shares of the business’s stock in a transaction on Friday, February 14th. The stock was acquired at an average price of C$1.49 per share, with a total value of C$682,459.20. Corporate insiders own 20.90% of the company’s stock.

About Banxa

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.