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

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

Banxa Price Performance

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 company’s 50 day moving average is C$1.12 and its 200-day moving average is C$0.77. The stock has a market cap of C$40.52 million, a PE ratio of -18.52 and a beta of 2.75.

Insider Transactions at Banxa

In related news, Director Antanas (Tony) Guoga purchased 50,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was acquired at an average price of C$1.01 per share, with a total value of C$50,720.00. 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.