Banxa (CVE:BNXA) Stock Price Down 36.4% – Here’s Why

Banxa Holdings Inc. (CVE:BNXA)’s share price traded down 36.4% during mid-day trading on Thursday . The company traded as low as C$0.74 and last traded at C$0.75. 171,042 shares changed hands during mid-day trading, an increase of 458% from the average session volume of 30,675 shares. The stock had previously closed at C$1.18.

Banxa Stock Performance

The business’s fifty day moving average price is C$0.72 and its 200-day moving average price is C$0.56. The company has a debt-to-equity ratio of 194.64, a current ratio of 0.96 and a quick ratio of 2.36. The stock has a market capitalization of C$34.17 million, a PE ratio of -3.75 and a beta of 2.75.

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.