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

Banxa Holdings Inc. (CVE:BNXA)’s stock price traded down 36.4% during mid-day trading on Wednesday . The stock traded as low as C$0.74 and last traded at C$0.75. 171,042 shares traded hands during 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 Up 25.3 %

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

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.