Banxa (CVE:BNXA) Stock Price Down 0.8% - Here's What Happened

Key Points

• Banxa Holdings Inc. shares fell by 0.8% during mid-day trading, closing at C$1.21, with a notable decline in trading volume, down 82% from the average.
• The company has a market cap of C$55.16 million and a negative PE ratio of -10.08, indicating financial challenges.
• Insider Domenico Carosa sold 40,400 shares of Banxa at an average price of C$1.24, further indicating potential volatility in the stock for investors.

Banxa Holdings Inc. (CVE:BNXA - Get Free Report)'s stock price was down 0.8% during trading on Wednesday . The company traded as low as C$1.20 and last traded at C$1.21. Approximately 13,703 shares changed 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 Price Performance

The company has a quick ratio of 2.36, a current ratio of 0.81 and a debt-to-equity ratio of -209.35. The firm has a market capitalization of C$54.70 million, a price-to-earnings ratio of -10.00 and a beta of 2.37. The stock's 50 day moving average price is C$1.22 and its two-hundred day moving average price is C$0.94.

Insider Buying and Selling

In other Banxa news, insider Domenico Carosa sold 40,400 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of C$1.24, for a total transaction of C$50,096.00. 20.90% of the stock is owned by 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.