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

Banxa Holdings Inc. (CVE:BNXA)’s stock price traded down 20.4% during trading on Tuesday . The stock traded as low as C$0.75 and last traded at C$0.78. 116,525 shares changed hands during 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 current ratio of 0.81, a quick ratio of 2.36 and a debt-to-equity ratio of -209.35. The firm has a market cap of C$40.52 million, a P/E ratio of -18.52 and a beta of 2.75. The stock’s fifty day moving average is C$1.12 and its two-hundred day moving average is C$0.77.

Insider Transactions at Banxa

In other Banxa news, Director Antanas (Tony) Guoga purchased 50,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was purchased at an average price of C$1.01 per share, for a total transaction of C$50,720.00. 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.