Banxa (CVE:BNXA) Trading Down 21.8% – Here’s Why

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

Banxa Trading Down 8.8 %

The firm has a 50 day simple moving average of C$1.11 and a 200 day simple moving average of C$0.77. 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 firm has a market capitalization of C$32.21 million, a PE ratio of -14.72 and a beta of 2.75.

Insider Buying and Selling at Banxa

In other news, Director Antanas (Tony) Guoga purchased 50,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were purchased at an average cost of C$1.01 per share, for a total transaction of C$50,720.00. Company 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.