Banxa (CVE:BNXA) Stock Price Down 20.4% – Should You Sell?

Banxa Holdings Inc. (CVE:BNXA)’s share price dropped 20.4% during trading on Tuesday . The stock traded as low as C$0.75 and last traded at C$0.78. Approximately 116,525 shares traded hands 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 Price Performance

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

Insider Transactions at Banxa

In other news, Director Antanas (Tony) Guoga purchased 456,800 shares of the stock in a transaction on Friday, February 14th. The shares were acquired at an average price of C$1.49 per share, for a total transaction of C$682,459.20. 20.90% of the stock is owned by insiders.

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.