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

Banxa Holdings Inc. (CVE:BNXA)’s share price was down 20.4% on Tuesday . The company traded as low as C$0.75 and last traded at C$0.78. 116,525 shares traded hands during trading, a decline of 24% from the average session volume of 153,542 shares. The stock had previously closed at C$0.98.

Banxa Trading Up 11.5 %

The stock has a market capitalization of C$35.32 million, a price-to-earnings ratio of -16.15 and a beta of 2.75. 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 company has a fifty day moving average of C$1.11 and a two-hundred day moving average of C$0.77.

Insider Activity at Banxa

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