Banxa (CVE:BNXA) Stock Price Down 20.4% – Time to Sell?

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

The firm has a market capitalization of C$40.52 million, a P/E 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. The business’s fifty day moving average price is C$1.12 and its two-hundred day moving average price is C$0.77.

Insider Activity

In related news, Director Antanas (Tony) Guoga bought 456,800 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average cost of C$1.49 per share, for a total transaction of C$682,459.20. Company 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.