Banxa (CVE:BNXA) Shares Down 36.4% – Here’s What Happened

Banxa Holdings Inc. (CVE:BNXA) fell 36.4% during mid-day trading on Thursday . The stock traded as low as C$0.74 and last traded at C$0.75. 171,042 shares changed hands during mid-day trading, an increase of 458% from the average session volume of 30,675 shares. The stock had previously closed at C$1.18.

Banxa Stock Down 36.4 %

The firm has a market cap of C$34.17 million, a PE ratio of -3.75 and a beta of 2.75. The business’s 50 day moving average price is C$0.72 and its 200 day moving average price is C$0.56. The company has a debt-to-equity ratio of 194.64, a current ratio of 0.96 and a quick ratio of 2.36.

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.