Banxa (CVE:BNXA) Stock Price Down 20.4% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA) was down 20.4% during mid-day trading on Monday . The company traded as low as C$0.75 and last traded at C$0.78. Approximately 116,525 shares were traded during trading, a decline of 24% from the average daily volume of 153,542 shares. The stock had previously closed at C$0.98.

Banxa Stock Performance

The stock has a market cap of C$40.52 million, a price-to-earnings ratio of -18.52 and a beta of 2.75. The stock’s fifty day moving average is C$1.12 and its 200-day moving average is C$0.77. The company has a quick ratio of 2.36, a current ratio of 0.81 and a debt-to-equity ratio of -209.35.

Insider Activity at Banxa

In other 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 purchased at an average price of C$1.49 per share, for a total transaction of C$682,459.20. Corporate insiders own 20.90% of the company’s stock.

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.