Banxa (CVE:BNXA) Stock Price Down 20.4% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA) shares fell 20.4% on Tuesday . The stock 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’s fifty day simple moving average is C$1.12 and its 200-day simple moving average is C$0.77. The firm has a market capitalization 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 current ratio of 0.81 and a quick ratio of 2.36.

Insider Transactions at Banxa

In related news, Director Antanas (Tony) Guoga purchased 456,800 shares of the business’s stock in a transaction on Friday, February 14th. The shares were acquired at an average price of C$1.49 per share, for a total transaction of C$682,459.20. 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.