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

Shares of Banxa Holdings Inc. (CVE:BNXA) traded down 20.4% during mid-day trading on Tuesday . The company 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 Up 11.5 %

The company has a market cap of C$35.32 million, a P/E ratio of -16.15 and a beta of 2.75. The stock’s 50-day moving average price is C$1.11 and its 200-day moving average price is C$0.77. The company has a current ratio of 0.81, a quick ratio of 2.36 and a debt-to-equity ratio of -209.35.

Insider Transactions at Banxa

In other Banxa news, Director Antanas (Tony) Guoga purchased 456,800 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of C$1.49 per share, with a total value 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.