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

Shares of Banxa Holdings Inc. (CVE:BNXA) traded down 20.4% during trading on Tuesday . 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 Trading Down 20.4 %

The company has a current ratio of 0.81, a quick ratio of 2.36 and a debt-to-equity ratio of -209.35. The business has a 50 day moving average price of C$1.12 and a 200 day moving average price of C$0.77. The company has a market capitalization of C$40.52 million, a P/E ratio of -18.52 and a beta of 2.75.

Insider Activity at Banxa

In other Banxa news, Director Antanas (Tony) Guoga acquired 456,800 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average cost of C$1.49 per share, for a total transaction of C$682,459.20. 20.90% of the stock is owned by 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.