Banxa (CVE:BNXA) Shares Up 30.1% – Here’s Why

Shares of Banxa Holdings Inc. (CVE:BNXA) were up 30.1% during mid-day trading on Wednesday . The stock traded as high as C$1.61 and last traded at C$1.60. Approximately 622,219 shares changed hands during trading, an increase of 226% from the average daily volume of 190,581 shares. The stock had previously closed at C$1.23.

Banxa Stock Performance

The company has a current ratio of 0.96, a quick ratio of 2.36 and a debt-to-equity ratio of 194.64. The company has a market capitalization of C$68.80 million, a price-to-earnings ratio of -7.55 and a beta of 2.75. The stock has a 50-day simple moving average of C$0.99 and a 200-day simple moving average of C$0.68.

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.