Banxa (CVE:BNXA) Trading 25.3% Higher – Here’s Why

Banxa Holdings Inc. (CVE:BNXA)’s share price was up 25.3% on Friday . The company traded as high as C$0.95 and last traded at C$0.94. Approximately 469,852 shares traded hands during mid-day 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 Price Performance

The stock 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 quick ratio of 2.36 and a current ratio of 0.96. The stock has a 50-day simple moving average of C$0.74 and a 200 day simple moving average of C$0.56.

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.