Banxa (CVE:BNXA) Shares Down 0.8% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA)’s stock price was down 0.8% during mid-day trading on Wednesday . The company traded as low as C$1.20 and last traded at C$1.21. Approximately 13,703 shares traded hands during trading, a decline of 82% from the average daily volume of 76,062 shares. The stock had previously closed at C$1.22.

Banxa Stock Performance

The company has a market cap of C$55.16 million, a PE ratio of -10.08 and a beta of 2.37. The company has a current ratio of 0.81, a quick ratio of 2.36 and a debt-to-equity ratio of -209.35. The business has a fifty day moving average of C$1.22 and a 200-day moving average of C$0.93.

Insider Transactions at Banxa

In related news, insider Domenico Carosa sold 40,400 shares of the business’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of C$1.24, for a total transaction of C$50,096.00. 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.