Banxa (CVE:BNXA) Shares Down 20.4% – What’s Next?

Shares of Banxa Holdings Inc. (CVE:BNXA) fell 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 changed 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 Price Performance

The firm has a market capitalization of C$40.52 million, a P/E ratio of -18.52 and a beta of 2.75. The business has a fifty day moving average of C$1.12 and a 200-day moving average of C$0.77. The company has a debt-to-equity ratio of -209.35, a quick ratio of 2.36 and a current ratio of 0.81.

Insiders Place Their Bets

In other Banxa news, Director Antanas (Tony) Guoga purchased 456,800 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were purchased at an average price of C$1.49 per share, for a total transaction of C$682,459.20. 20.90% of the stock is owned by insiders.

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.