Banxa (CVE:BNXA) Shares Down 20.4% – Should You Sell?

Banxa Holdings Inc. (CVE:BNXA) shares fell 20.4% on Tuesday . The company traded as low as C$0.75 and last traded at C$0.78. 116,525 shares were traded 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 Stock 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 stock’s 50 day moving average price is C$1.12 and its 200-day moving average price is C$0.77. The company has a market cap of C$40.52 million, a PE ratio of -18.52 and a beta of 2.75.

Insiders Place Their Bets

In related news, Director Antanas (Tony) Guoga purchased 456,800 shares of Banxa stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average cost of C$1.49 per share, for a total transaction of C$682,459.20. 20.90% of the stock is currently owned by 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.