Banxa (CVE:BNXA) Shares Down 21.8% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA) traded down 21.8% during trading on Tuesday . The company 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 Price Performance

The stock has a market capitalization of C$31.69 million, a price-to-earnings ratio of -14.49 and a beta of 2.75. 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 stock has a 50-day simple moving average of C$1.12 and a 200 day simple moving average of C$0.77.

Insiders Place Their Bets

In other news, Director Antanas (Tony) Guoga purchased 50,000 shares of Banxa stock in a transaction dated Friday, February 21st. The stock was acquired at an average cost of C$1.01 per share, for a total transaction of C$50,720.00. Corporate 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.