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Banxa (CVE:BNXA) Trading 10% Higher - Time to Buy?

Banxa logo with Computer and Technology background

Shares of Banxa Holdings Inc. (CVE:BNXA - Get Free Report) were up 10% during mid-day trading on Monday . The stock traded as high as C$1.38 and last traded at C$1.32. Approximately 120,727 shares traded hands during trading, an increase of 50% from the average daily volume of 80,424 shares. The stock had previously closed at C$1.20.

Banxa Stock Performance

The company has a market cap of C$66.49 million, a P/E ratio of -30.40 and a beta of 2.75. The company's fifty day moving average is C$0.83 and its 200 day moving average is C$0.88. The company has a current ratio of 0.81, a quick ratio of 2.36 and a debt-to-equity ratio of -209.35.

About Banxa

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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.

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