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

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

Banxa Trading Down 8.8 %

The stock has a market cap of C$32.21 million, a price-to-earnings ratio of -14.72 and a beta of 2.75. The business’s fifty day simple moving average is C$1.11 and its 200 day simple moving average is C$0.77. The company has a debt-to-equity ratio of -209.35, a current ratio of 0.81 and a quick ratio of 2.36.

Insiders Place Their Bets

In other Banxa news, Director Antanas (Tony) Guoga acquired 456,800 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was purchased at an average price of C$1.49 per share, with a total value of C$682,459.20. 20.90% of the stock is currently owned by corporate 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.