Banxa (CVE:BNXA) Trading 25.3% Higher – Still a Buy?

Shares of Banxa Holdings Inc. (CVE:BNXA) were up 25.3% during trading on Saturday . The stock traded as high as C$0.95 and last traded at C$0.94. Approximately 469,852 shares were traded during trading, an increase of 1,346% from the average daily volume of 32,490 shares. The stock had previously closed at C$0.75.

Banxa Stock Performance

The stock’s 50-day moving average price is C$0.74 and its 200 day moving average price is C$0.56. The company has a quick ratio of 2.36, a current ratio of 0.96 and a debt-to-equity ratio of 194.64. The company has a market cap of C$42.83 million, a P/E ratio of -4.70 and a beta of 2.75.

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.