Banxa (CVE:BNXA) Stock Price Down 21.8% – Should You Sell?

Banxa Holdings Inc. (CVE:BNXA)’s stock price dropped 21.8% during mid-day trading on Tuesday . The company traded as low as C$0.55 and last traded at C$0.61. Approximately 356,647 shares traded hands during trading, an increase of 125% from the average daily volume of 158,265 shares. The stock had previously closed at C$0.78.

Banxa Price Performance

The company has a debt-to-equity ratio of -209.35, a current ratio of 0.81 and a quick ratio of 2.36. The company has a market capitalization of C$31.69 million, a PE ratio of -14.49 and a beta of 2.75. The stock’s 50 day simple moving average is C$1.12 and its 200-day simple moving average is C$0.77.

Insiders Place Their Bets

In other news, Director Antanas (Tony) Guoga bought 456,800 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average cost 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.