Banxa (CVE:BNXA) Shares Down 21.8% – Here’s What Happened

Banxa Holdings Inc. (CVE:BNXA) traded down 21.8% during trading on Wednesday . The stock traded as low as C$0.55 and last traded at C$0.61. 356,647 shares changed 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 21.8 %

The stock has a 50-day moving average price of C$1.12 and a two-hundred day moving average price of C$0.77. The stock has a market capitalization of C$31.69 million, a PE ratio of -14.49 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.

Insiders Place Their Bets

In other news, Director Antanas (Tony) Guoga bought 456,800 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was bought 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 owned by company 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.