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

Banxa Holdings Inc. (CVE:BNXA) traded down 20.4% on Tuesday . The stock traded as low as C$0.75 and last traded at C$0.78. 116,525 shares changed hands 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 stock has a fifty day moving average price of C$1.12 and a 200-day moving average price of C$0.77. The firm has a market cap of C$40.52 million, a PE ratio of -18.52 and a beta of 2.75. 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 Buying and Selling at Banxa

In related news, Director Antanas (Tony) Guoga bought 456,800 shares of the firm’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 corporate 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.