Banxa (CVE:BNXA) Shares Down 21.8% – Should You Sell?

Banxa Holdings Inc. (CVE:BNXA) shares were down 21.8% during mid-day trading on Tuesday . The company traded as low as C$0.55 and last traded at C$0.61. Approximately 356,647 shares changed hands during mid-day trading, an increase of 125% from the average daily volume of 158,265 shares. The stock had previously closed at C$0.78.

Banxa Price Performance

The stock has a fifty day moving average of C$1.12 and a 200-day moving average of C$0.77. The company has a quick ratio of 2.36, a current ratio of 0.81 and a debt-to-equity ratio of -209.35. The stock has a market capitalization of C$31.69 million, a price-to-earnings ratio of -14.49 and a beta of 2.75.

Insider Activity at Banxa

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