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

Banxa Holdings Inc. (CVE:BNXA)’s stock price traded down 20.4% during trading on Tuesday . The stock 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 Performance

The company has a market capitalization of C$35.32 million, a price-to-earnings ratio of -16.15 and a beta of 2.75. The firm’s 50 day simple moving average is C$1.11 and its 200-day simple moving average is 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.

Insider Activity

In related news, Director Antanas (Tony) Guoga bought 50,000 shares of Banxa stock in a transaction that occurred on Friday, February 21st. The stock was purchased at an average cost of C$1.01 per share, for a total transaction of C$50,720.00. 20.90% of the stock is 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.