Banxa (CVE:BNXA) Trading 13.2% Higher - Still a Buy?

Shares of Banxa Holdings Inc. (CVE:BNXA - Get Free Report) were up 13.2% on Saturday . The company traded as high as C$1.41 and last traded at C$1.20. Approximately 598,118 shares traded hands during mid-day trading, an increase of 645% from the average daily volume of 80,271 shares. The stock had previously closed at C$1.06.

Banxa Stock Performance

The stock has a market capitalization of C$66.49 million, a price-to-earnings ratio of -30.40 and a beta of 2.75. The company has a 50 day simple moving average of C$0.84 and a 200-day simple moving average of C$0.89. The company has a quick ratio of 2.36, a current ratio of 0.81 and a debt-to-equity ratio of -209.35.

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.