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

Shares of Banxa Holdings Inc. (CVE:BNXA) traded down 20.4% during trading on Monday . The company traded as low as C$0.75 and last traded at C$0.78. 116,525 shares traded 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 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 cap of C$40.52 million, a P/E ratio of -18.52 and a beta of 2.75. The company’s 50 day moving average price is C$1.12 and its two-hundred day moving average price is C$0.77.

Insider Buying and Selling at Banxa

In other Banxa news, Director Antanas (Tony) Guoga bought 50,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were acquired at an average price of C$1.01 per share, with a total value of C$50,720.00. 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.