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

Banxa Holdings Inc. (CVE:BNXA)’s stock price fell 20.4% on Tuesday . The company traded as low as C$0.75 and last traded at C$0.78. 116,525 shares changed 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 Down 20.4 %

The company has a debt-to-equity ratio of -209.35, a quick ratio of 2.36 and a current ratio of 0.81. The business has a 50-day simple moving average of C$1.12 and a two-hundred day simple moving average of C$0.77. The stock has a market cap of C$40.52 million, a price-to-earnings ratio of -18.52 and a beta of 2.75.

Insider Activity

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