Banxa (CVE:BNXA) Trading Down 20.4% – Time to Sell?

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

Banxa Trading Up 11.5 %

The company has a 50-day moving average price of C$1.11 and a 200-day moving average price of C$0.77. The company has a market capitalization of C$35.32 million, a price-to-earnings ratio of -16.15 and a beta of 2.75. The company has a quick ratio of 2.36, a current ratio of 0.81 and a debt-to-equity ratio of -209.35.

Insider Activity at Banxa

In other Banxa news, Director Antanas (Tony) Guoga acquired 456,800 shares of Banxa stock in a transaction dated Friday, February 14th. The stock was bought at an average cost of C$1.49 per share, with a total value of C$682,459.20. 20.90% of the stock is 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.